Brent Oil to regain downward momentum on failure at $81 – SocGen Oil Brent Technical Analysis Banks
Brent is inching towards first resistance at $81. Economists at Société Générale analyze the technicalDaily MACD has started posting positive divergence however signals of trend reversal are not yet visible. Recent peak at $86/87 remains a key resistance zone.
Break below $70 would confirm one more leg of downtrend; next potential objectives are located at December 2021 low of $65/63 and $57.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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