Brent Crude Oil: ⬇️ Sell
– Brent Crude Oil reversed from strong resistance level 113.20
– Likely to fall to support level 105.00
Brent Crude Oil recently reversed down from the resistance zone between the strong resistance level 113.20 (which stopped wave (A) in March and wave B at the start of May), the upper daily Bollinger Band and the resistance trendline of the daily up channel from August.
The downward reversal from this resistance zone completed the impulse wave (iii) and started the active correction (iv) of the impulse wave iii from the start of October.
Given the strength of the resistance level 113.20 and the bearish divergence on the daily Stochastic oscillator, Brent Crude Oil can be expected to fall further toward the next round support level 105.00 – which intersects with the support trendline of the aforementioned up channel.
 in March and wave B at the start of May), the upper daily Bollinger Band and the resistance trendline of the daily up channel from August.){kind=link}