Brent crude oil
is testing major support at 68.50 ( Fibonacci retracement
, horizontal overlap support) and a break of this level could potentially drive price all the way down to 65.96 ( Fibonacci retracement
, horizontal overlap support). It is important to keep an eye out on our long term ascending support line too which could serve as potential intermediate support.
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Losses can exceed the initial investment so please ensure you fully understand the risks.