Contributors Technical Analysis Brent Oil Break or Bounce?

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.

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