Oil Brent At Support 30.50
FxGrow | Feb 10, 2016 11:58AM ET
Oil brent at support 30.50
Rebound which lasted 10 days is now only a memory and oil returned to downtrend. So far price stayed above 30.00 level; however there isn't any optimistic sign for the bulls. It is likely that side trend between 27.30 and 36.10 will be continued.
If supply breaks below support, nearest target for falls will be 29.30, but a great battle of demand and supply will take place at 27.30. Alternatively if demand defends that support next resistances will be located at levels: 32.30, 33.50, 34.60, 36.10.
Time-frame H1
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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