As the Brent fell below the 50 EMA on the daily chart previously, and the short selling has just begun since then.
my main targets were 62.55 and 61.20, and so far the market has already hit the first target at 62.55 and now moving in a sideways range between 64.10 and 61.20.
In general, as long we're below 64.50, the market considers to be under pressure and may test 61.20 area.
i'm not interested to buy this market for now until we see an impulsive reaction and breaking above Dec 12th high at 65.80 to consider buying again.
my main targets were 62.55 and 61.20, and so far the market has already hit the first target at 62.55 and now moving in a sideways range between 64.10 and 61.20.
In general, as long we're below 64.50, the market considers to be under pressure and may test 61.20 area.
i'm not interested to buy this market for now until we see an impulsive reaction and breaking above Dec 12th high at 65.80 to consider buying again.