Brent Crude 3-Year weekly chart

Major psychological support level for Brent is 50 Next? 40
Major support level for brent is 50

Brent 3-Year Weekly Chart

The major trend is down and the major psychological support level is 50. Barring a major geopolitical event, there is a high probability this level will not hold. I continue to be short and will keep the short position until the charts indicate a reversal of the downtrend.

Cheap Oil’s Dark Shadow

______________________________

“The pressure starts when you execute the trade.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2015 TradeOnline.ca

Leave a Reply

Your email address will not be published.