Downside Prevails
Our Pivot: 84.80
Our Preference: Start short selling Brent below 84.15 with strict stop loss of 84.80 and profit target at 83.00 with extension towards 82.42.
Alternate Scenario: Upward penetration of 84.80 will call for 85.60.
NOTE: Brent is being capped by horizontal resistant region along with an ascending trend line.
Chart with supports & resistances:
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