$71 last hope for Brent crude oil bulls as sanctions kick in
The introduction of US sanctions on Iran has been a "sell the fact" event. Brent crude has broken a long term rising trendline = bearish
Scenario A) price bounces to 74.30-75.10, which holds as resistance for another leg lower towards 71
Scenario B) price just drops from current levels to 71
Scenario A) price bounces to 74.30-75.10, which holds as resistance for another leg lower towards 71
Scenario B) price just drops from current levels to 71
