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- Brent crude oil to suffer a deeper fall on a break below June low of $67.44 - Credit Suisse
Brent crude oil to suffer a deeper fall on a break below June low of $67.44 - Credit Suisse
FXStreet reports that Brent crude oil is threatening a top and strategists at Credit Suisse suggest that the top will be confirmed on a break below the $67.44 July low.
“Brent Crude Oil remains under pressure with weekly RSI momentum holding a clear top and bearish divergence to warn of a potential price top also.”
“Below the $67.44 July low would warn of a more serious break lower, for a move to $64.57 next, with scope for the 200-day average at $63.18.”
“Above $72.70 is needed to ease the pressure off the $67.44 July low for a recovery back to the top of the range at $75.78/77.84.”
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