June 30, 2014
Brent Crude Oil recently reversed sharply down from the resistance zone near the resistance level 116.00 – which also previously reversed the price down in September of 2013 (as you can see on the daily Brent Crude Oil chart below).
This resistance zone was further strengthened by the upper daily Bollinger Band as well as the resistance trendline of the daily up channel from last November. Having just broken below the support level 112.80 – Brent Crude Oil is likely to correct further down to the next correction targets at 111.70 and 111.00.
The post HY MARKETS News: Commodities Report: Brent Crude Oil appeared first on | HY Markets Official blog.
