The introduction of US sanctions on Iran has been a "sell the fact" event. Brent crude has broken a long term rising trendline = bearish
Scenario A) price bounces to 74.30-75.10, which holds as resistance for another leg lower towards 71
Scenario B) price just drops from current levels to 71
Scenario A) price bounces to 74.30-75.10, which holds as resistance for another leg lower towards 71
Scenario B) price just drops from current levels to 71
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Market Analyst for:
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tradingwriters.substack.com/
Market Analyst for:
WeTrade
wetradebroker.com/education/analysis/jasper/
SpreadEx
spreadex.com/financials
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.