Brent oil may fall into $98.22-$98.98 range - Reuters technicals
Brent oil may break support at $100.97 per barrel and fall into a range of $98.22-$98.98, Reuters analysts said. Immediate resistance is at $102.20, a break above which may lead to a gain into the $102.96-103.43 range. On the daily chart, the market has fallen below the rising channel and broken support at $102.67. It is expected to fall further into a range of $94.21-$98.
98. 40, serving as one of the wave's endpoints. 97, as a bearish pennant was confirmed, suggesting a target of $97. 43 range.
67. 43. 43, because the current fall may turn out to be the same degree as the one from the July 23 high of $102. Wang Tao is a Reuters market analyst for commodities and energy technicals.
The views expressed are his own. His analyses are published exclusively on the Workspace platform, a London Stock Exchange product. * No information in this analysis should be considered as business, financial, or legal advice. Each reader should consult his or her own professional or other advisers for business, financial, or legal advice regarding the products mentioned in the analyses.
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