Brent is a sell opportunity

brent.png

BRent’s failure to sustain above 5-DMA and 10-DMA after failing multiple times to take out/sustain above $42.00 levels indicates the prices are heading back to the falling trend line (green) support seen at $38.85.

The sell-off may not happen today since volumes are low, but a daily close below 5-DMA and 10-DMA today would add credence to the bearish view, but the downside target tomorrow would shift to $38.80.

Resistance levels – $41, $42.05, $42.46

Support levels- $38.80, $38.40, $

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