Brent oil – stuck between trend line hurdle & weekly 50-MA
The weekly 50-MA stands at $51.04, while the 23.6% Fib retracement of Jan 2016 low and Jan 2017 low stands at $50.98
The dips below the confluence of key levels provide to be short lived this week. On the higher side, the rising trend line is capping gains.
The RSI has topped out… so the odds of a bearish breakdown are high, however, as of now prices are in the no man’s land.
The dips below the confluence of key levels provide to be short lived this week. On the higher side, the rising trend line is capping gains.
The RSI has topped out… so the odds of a bearish breakdown are high, however, as of now prices are in the no man’s land.
