Brent neutral

Oil is correcting

16 March 2022 602
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Oil is correcting after the powerful breakthrough.

Gradually, the corrective Fibonacci retracement levels of 38.2% and 50% have been achieved and also the uptrend line.

It will become clear within several days whether the trend stand under pressure of the corrective movement. If it does, Brent growth will probably continue but at a calmer pace towards the levels of 107 and 117. Otherwise, decline to the Fibonacci retracement level of 61.8% is probable. 

This content is for informational purposes only and is not intended to be investing advice.

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