The Brent crude has bouncing since the lower limit of its bassist trend, but faces a key resistance at $ 68.70.70.50. A ruling in breaking up could trigger a setback, with $ 65.30 and $ 62.30 as key support levels, the FX analysts of Société Générale indicate.
Support at $ 65.30 is key to short -term perspective
“The Brent has starred in a rebound after testing the lower limit of a descending channel drawn from 2023 in 58.40 $. Until now, the rise has been contained in graphic levels of 68.70/70.50 that represent the minimums last year and the 50 -day mobile mean.”
“This is an intermediate resistance zone. If the rebound fades near this obstacle, a short -term setback cannot be ruled out. The recent minimum pivotant of 65.30 $ is the first support. A break below this can result in a deeper setback by $ 62.30 and the recent minimum of 58.40 $.”
Source: Fx Street
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