Brent crude oil: ⬆️ Buy
- Brent crude oil reversed from the pivotal support level 68.55
- Likely to rise to resistance level 71.30
Brent crude oil recently reversed from the support area between the pivotal support level 68.55 (former multi-month low from September) and the lower daily Bollinger Band.
The upward reversal from this support area stopped the earlier downward impulse waves 3 and (3).
Given the strength of the support level 68.55 and the oversold daily Stochastic, Brent crude oil can be expected to rise to the next resistance level 71.30.
 and the lower daily Bollinger Band.){kind=link}