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Brent Oil Break or Bounce?

Brent has managed to recover in the Friday’s trading session and closed the week above the median line (ML) of the major ascending pitchfork and above the 57.72 static resistance. The rate decreased today and retested the mentioned support levels, so only a valid breakdown below the Ml will announce a further drop in the upcoming period. An increase will be confirmed by a breakout above the upper median line (ml) of the minor descending pitchfork.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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