Brent futures traded sharply lower Tuesday. This reinforces short-term bearish conditions and resulted in a print below support at $73.49, the May 15 low. A clear break of this level would signal scope for weakness towards $71.28, the May 4 low and $70.10, the Mar 20 low and key support. Moving average studies are in a bear mode position highlighting a downtrend. Key resistance is at $78.16, the 50-day EMA.

Homepage markets-real-time Commodities Energy Bullets Bullet Energy Technical Analysis

Taso Anastasiou

Homepage markets-real-time Commodities Energy Bullets Bullet Energy Technical Analysis

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(N3) Bear Threat Remains Present