Oil (Brent) Expected to Retest Trendline


Oil (Brent) is seeing a Bearish Harami pattern as price tried to retest US$80.00 level. The failure to break previous resistance coupled with bearish candlestick pattern signals that Oil (Brent) is experiencing lack of strength and we expect price to retrace and re-test trendline at US$75.00. Second downside objective at US$72.00.