Brent oil – Sell-off could gather steam below trend line support
Despite recovery from $45.66, the subsequent failure at hourly chart hurdle of $46.88 in the wake of a bearish symmetrical triangle breakout on the daily chart suggests the prices could re-test the falling channel support around $46.00. A break lower could yield a sell-off to $44.00 handle.
On the higher side, an hourly close above $46.88 could yield a re-test of $48.00-48.59 levels.
On the higher side, an hourly close above $46.88 could yield a re-test of $48.00-48.59 levels.
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