Waiting for oil to go down

22 july 2021 112
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Having broken out its support at $72 a week ago, Brent oil performed a bottom-up retest of this level.

In the graph, we can see a small zone of consolidation at $69 from which flickers an impulse for the retest. It is most likely that the price will come to test this overbuy zone.

The nearest target is $69.

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