Brent Oil Analysis
Brent oil is struggling to extend the rally from $ 47.71 to $ 200-DMA.
Brent oil gave up a footing some time ago, but the rally is struggling in the near term with trend resistance just below the $ 45 limit from June. Credit Suisse strategists predict a higher trend, with black gold rising to $ 47.71.
“The next level of resistance appears to be at $ 45.18 / $ 50, followed by an even more significant level at $ 47.71 on the 200-day average. A direct fracture can be resistant to 61.8%.
“The $ 41.32 boost is now ideal to keep the immediate risk higher. Down could be a warning of a fall to $ 37.01. ”