BRENT CRUDE OIL: Technical Perspective. The short term trend will signal a change once the price tests and breaches the upper boundary of the declining channel (broken trend lines) combined with a strong candle structure. Note, the price has retraced towards it's 61.8% Fibonacci level which extends from the 02 December low to the 07 March high however has breached the support range in place since 01 March. The 14-day RSI is at 41, reflecting a bearish/weak regime.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.