Despite Brent’s recovery from the low of $49.63 to $50.64, the outlook remains bullish given the falling channel is intact on the 4-hr chart.
The rejection at 5-DMA of $50.80 followed by a break below $50.20 (Oct 25 low) would open doors for a test of falling channel support.
Bearish invalidation is seen only if prices breach falling channel on the higher side.
The rejection at 5-DMA of $50.80 followed by a break below $50.20 (Oct 25 low) would open doors for a test of falling channel support.
Bearish invalidation is seen only if prices breach falling channel on the higher side.
Related publications
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.
Related publications
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.