Brent is trading in the red Up-Trendchannel, currently testing the weekly 55 EMA which lays at the 50% Fibonacci Retracement at 48.37. Break through the 50% Fibonacci Retracement would target the 61.8 Fibonacci Retracement at 53.40. Resistance Levels in-between are 49.88, 50.85, 52.33.
The longterm Trend is down, but shorts should wait for a break below Trendchannel.
The longterm Trend is down, but shorts should wait for a break below Trendchannel.