Brent Crude is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If Brent Crude continues in its current trajectory, we could see it reach 68.9965 within the next 15 hours.
A Descending Triangle has formed, Brent Crude is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?
