Brent futures dips are considered corrective. The contract resumed its uptrend on December 4, clearing resistance at $49.00, Nov 26 high. The break higher maintains the bullish price sequence of higher highs and higher lows that defines an uptrend with moving average studies also in a bull mode condition. The focus is on $50.00 and $50.45, 61.8% retracement of the Jan - Apr sell-off (cont). On the downside, firm support lies at $46.82, low Dec 2.

Fixed Income Technical Analysis Foreign Exchange Technical Analysis Homepage markets-real-time Commodities Bullet Markets Fixed Income News Foreign Exchange News

Taso Anastasiou

Fixed Income Technical Analysis Foreign Exchange Technical Analysis Homepage markets-real-time Commodities Bullet Markets Fixed Income News Foreign Exchange News

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(G1) Correcting Lower