Brent Crude Oil to witness a short-term up move towards April high of $87.50 – SocGen Oil Brent Technical Analysis Banks
Brent recently defended the low of March near $70 and evolved within a small base. A breakout from this accumulation has led it beyond the 200-DMA first time since August 2022.
Daily MACD has been posting positive divergence and has crossed above the equilibrium line denoting regain of upward momentum. Defence of the MA near $81 would be crucial for persistence in uptrend.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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