Brent Crude is moving towards a support line. Because we have seen it retrace from this level in the past, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 20 days and may test it again within the next 3 days.
Supports and resistances are primary concepts of technical analysis. Brent Crude is heading for an important price of 66.8725 – read about what this could mean for the future.
