Brent Oil: Failure to defend December trough of $75 to trigger next leg of downtrend – SocGen Oil Brent Banks
Signals of a meaningful uptrend are not yet visible
“Daily MACD has started posting positive divergence however signals of a meaningful uptrend are not yet visible.”“If Brent fails to defend December trough of $75, next leg of downtrend is likely to materialize towards $70 and $65/63, the 61.8% retracement of whole uptrend during 2020/2022.” Information on these pages contains forward-looking statements that involve risks and uncertainties.
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