Brent Oil May Extend Loss Into $89.82–$91.12 Range
A Fibonacci analysis suggests the Brent January contract may extend its loss into the stated range.
The Brent oil January contract ICEEUR:BRN1! may extend loss into a range of $89.82-$91.12 per barrel, as suggested by a Fibonacci ratio analysis.A retracement analysis on the uptrend from $91.12 to $114.27 reveals a break below the 86.4% level of $94.27, the last barrier towards $91.12.A projection…