Brent Crude Oil pushing higher
Higher close this week
Price found support on trendline
around the 50% Fibonacci ratio (71.74).
In support is the 20 day MA (74.18), just above the
price action in around a further trendline
who supplied strong support in the past
and was breached in the past week.
With the Bollinger outer Bands showing signs
of contracting, expecting further price action
to the upside.
For clarity on the range, the Fibonacci 100%
is at 116.14 and the 0% at 27.34 and the current
price is just above the 50%.
Price found support on trendline
around the 50% Fibonacci ratio (71.74).
In support is the 20 day MA (74.18), just above the
price action in around a further trendline
who supplied strong support in the past
and was breached in the past week.
With the Bollinger outer Bands showing signs
of contracting, expecting further price action
to the upside.
For clarity on the range, the Fibonacci 100%
is at 116.14 and the 0% at 27.34 and the current
price is just above the 50%.
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