Brent Crude Oil - Downward trend seems to enter range
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Brent Crude Oil seems to keep the downward trend for today, as long as the price do not break the downward trend short positions are favorable. I noted a price range between $52.00 and $51.40 price levels where the price was sidling before, therefore I would expect a moderate movement within that price range. If the downward trend breaks then we will have a double confirmation for the long positions up until the $52.70 resistance level.
Transaction en cours
A the price broke above the downward trendline, long positions are suggested. It might happen that the $52.70 resistance level will stop the upward price movement.Note
As it was proposed in the previous comments the $52.70 resistance line stopped the upward trend.
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