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– Brent Crude Oil reversed from support zone
– Likely to rise to resistance level 76.75
Brent Crude Oil recently reversed up from the support zone between the key support level 74.00 (former strong resistance from December), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from October.
The upward reversal from this support zone stopped the previous short-term ABC correction ii from the middle of January.
Given the bullish divergence on the daily Stochastic, Brent Crude Oil can be expected to rise to the next resistance level 76.75.
Source: https://fxpro.news
