Downside Prevails
Our Pivot: 83.20
Our Preference: Start short selling Brent below 82.40 with strict stop loss of 83.20 and profit target at 81.27 with extension towards 80.50.
Alternate Scenario: Upward penetration of 83.20 will call for 84.15 and 84.60.
NOTE: Brent is being capped by an ascending trend line.
Chart with supports & resistances:
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