Brent oil update

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.

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