0
0
October 08, 2020 at 03:48PM
• Brent crude oil continues to rise
• Likely to reach 44.00
Brent crude oil has been rising in the last few trading sessions following the earlier upward reversal from the support area located between the key support level 40.00 and the 38.2% Fibonacci correction of the upward impulse from May.
The upward reversal from this support zone stopped the previous short-term impulse wave (iii).
Brent crude oil is likely to rise further toward the next resistance level 44.00 (top of wave (ii)) – followed by 46.40 (monthly high from August).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/brent-crude-oil-wave-analysis-8-october-2020-20201008/
Selected by fonecable.com
Search Web: Brent crude oil Wave Analysis 8 October, 2020
Recent Posts
- Bitcoin Outlook: Bullish Scenario May Play Out if Key Technical Support Holds
- AUD/USD Rate Faces Australia CPI Report & Fed Rate Decision
- Trading Earnings Season: 3 Steps for Using Earnings Reports
- Forex Vs Stocks: Top Differences & How to Trade Them
- How to Learn Technical Analysis with DailyFX
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
Average Rating