Next Week Forecast for Brent Crude Oil - daily bearish with 42.54 key support

Next Week Forecast for Brent Crude Oil - daily bearish with 42.54 key support

29 July 2016, 08:49
Sergey Golubev
3
104

Daily price is on bearish market condition located below Ichimoku cloud: price is testing 42.54 support level to below for the bearish trend to be continuing. Alternative, if the price breaks 45.15 resistance level to above so the local uptrend as the bear market rally will be started, otherwise - ranging bearish.

  • Recommendation for long: watch close D1 price to break 45.15 for possible buy trade
  • Recommendation to go short: watch D1 price to break 42.54 support level for possible sell trade
  • Trading Summary: bearish
Resistance
Support
45.1542.54
47.53N/A

SUMMARY : bearish

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