Brent oil- Fresh sell-off below daily low
Brent's failure to move back inside the sideways channel (blue dotted line) followed by a break below the daily low after Monday's bearish breakout from sideways channel would result in sharp losses to $44.94 (100-DMA) levels.
On the higher side, a violation at $46.75 (23.6% of Jan low - June high) on the daily closing basis could yield $48.34 (50% of May 2015 high - Jan 2016 low).
On the higher side, a violation at $46.75 (23.6% of Jan low - June high) on the daily closing basis could yield $48.34 (50% of May 2015 high - Jan 2016 low).
Related publications
Disclaimer
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.