Brent’s Intraday – CMP $39.80
Though prices recovered from low of $39.62 ysday, it was not enough to avoid bearish crossover between 5-DMA and 10-DMA, thus futures fell back to $39.80.
Said move signals decline from multiple failures around $42 is likely to see prices drop to $38.76-38.68 lvls.
Trade from short side with stop abv 5-DMA of $40.45. Bearish invalidation is seen only in case of a daily close abv $42.00 lvls.