Brent oil – Bearish price-RSI divergence on daily
Support – $46.72, $45.32, $43.89
Resistance - $48.26, $48.73, $49.81
Resistance - $48.26, $48.73, $49.81
-
Brent’s move lower yesterday has confirmed a bearish price RSI divergence on the daily chart, thus indicating prices could move lower to support at $46.72 and $45.32.
- Intraday bearish invalidation is seen only if prices move back above Asian session high of $48.73, in which case previous day’s high of $49.81 stands exposed.
- On a larger scheme of things, a day end closing above $48.91 would signal continuation of rally from February low.
