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Brent crude oil: ⬇️ Sell
– Brent crude oil reversed from key resistance level 67.80
– Likely to fall to support level 64.60.
Brent crude oil recently reversed down from the resistance area between the key resistance level 67.80 (which stopped wave (2) in the middle of April), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from January.
The downward reversal from this resistance area stopped the previous short-term ABC correction 2 from the start of May.
Given the strong daily downtrend, Brent crude oil can be expected to fall to the next support level 64.60.
Source: https://fxpro.news
