• Brent Oil to regain downward momentum on a break below $70 – SocGen

Noticias del mercado

1 junio 2023

Brent Oil to regain downward momentum on a break below $70 – SocGen

Strategists at Société Générale analyze Brent's technical outlook.

Inability to overcome resistance zone of $79/81 could lead to extension in the downtrend

Brent has so far defended the trough of March near $70 however a meaningful rebound has remained elusive.

Inability to overcome the resistance zone of $79/81 representing the 50-DMA and a multi-month descending trend line could lead to extension in the downtrend.

A break below $70 is expected to result in regain of downward momentum; next potential objectives could be at December 2021 low of $65/63 and $57.

 

Enfoque del mercado
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Abrir cuenta demo y página personal
Entiendo y acepto la Política de Privacidad y estoy de acuerdo con que mi nombre y datos de contacto sean procesados por TeleTrade y utilizados para contactarme en lo referente a: