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jasperlawler

$71 last hope for Brent crude oil bulls as sanctions kick in

Short
CFD Petrolio greggio Brent (TVC:UKOIL)  
jasperlawler  
TVC:UKOIL   CFD Petrolio greggio Brent
Trend Analysis Support and Resistance Trend Lines brent brentoil brentcrude brentcrudeoil brentshort
3
0
trendanalysis supportandresistance trendline brent brentoil brentcrude brentcrudeoil brentshort
The introduction of US sanctions on Iran has been a "sell the fact" event. Brent crude has broken a long term rising trendline = bearish

Scenario A) price bounces to 74.30-75.10, which holds as resistance for another leg lower towards 71
Scenario B) price just drops from current levels to 71

Idee correlate

jasperlawler
WTI crude oil bottom in? Confluence of support at $55
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