Brent crude oil: ⬆️ Buy
- Brent crude oil reversed from support zone
- Likely to rise to resistance level 62.00
Brent crude oil recently reversed up sharply from the support zone between the key support level 58.60 (which stopped the previous sharp impulse wave i) and the lower daily Bollinger Band.
The upward reversal from this support zone formed the daily Japanese candlesticks reversal pattern Hammer, which highlights the strength of this support area.
Brent crude oil can be expected to rise to the next resistance level 62.00 (38.2% Fibonacci correction of the previous sharp downward impulse from April).
 and the lower daily Bollinger Band.){kind=link}