Brent Crude Oil: ⬇️ Sell
- Brent Crude Oil reversed from resistance zone
- Likely to fall to support level 58.40
Brent Crude Oil recently reversed down from the resistance zone between the key resistance level 62.00 (former support from November) and the 50% Fibonacci correction of the downward impulse from October.
This resistance zone was further strengthened by the 2 downward sloping intersecting trendlines from September and June.
Given the clear daily downtrend, Brent Crude Oil can be expected to fall to the next support level 58.40 (which has been revering the price from April).
 and the 50% Fibonacci correction of the downward impulse from October.){kind=link}