- Brent Crude Oil broke support zone
- Likely to fall to support level 66.00
Brent Crude Oil recently broke the support zone between the key support level of 68.00 (which reversed the price multiple times in July) and the two support trendlines from May.
The breakout of this support zone accelerated the active impulse wave iii of the higher order impulse wave 3 from the middle of June.
Brent Crude Oil can be expected to fall to the next support level 66.00 (former resistance from May and the low of the earlier impulse wave i).
- Likely to fall to support level 66.00
Brent Crude Oil recently broke the support zone between the key support level of 68.00 (which reversed the price multiple times in July) and the two support trendlines from May.
The breakout of this support zone accelerated the active impulse wave iii of the higher order impulse wave 3 from the middle of June.
Brent Crude Oil can be expected to fall to the next support level 66.00 (former resistance from May and the low of the earlier impulse wave i).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.