Downside Prevails
Our Pivot: 79.60
Our Preference: Start short selling Brent below 79.10 with strict stop loss of 79.60 and profit target at 77.85 with extension towards 77.10.
Alternate Scenario: Upward penetration of 79.60 will call for 80.60.
NOTE: Brent is being capped by a horizontal resistant region.
Chart with supports & resistances:
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