Brent Crude is heading towards the support line of a Channel Up and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
Brent Crude is quickly approaching the support line of a Channel Up. We expect either a breakout through this line or a rebound.
