Brent Crude established a base a while ago although the rally is struggling near-term with trend resistance from June just below the $45 level capping. Strategists at Credit Suisse maintain a higher bias with the black gold rising to $47.71. Key quotes “We continue to give the upside the benefit of the doubt for now though with resistance seen next at $45.18/50 and then more importantly at the 200-day average at $47.71, which we look to then cap. A direct and closing break can see resistance next at the 61.8% retracement of the Q1 fall at $50.45.” “Support at $41.32 now ideally holds to keep the immediate risk higher. Below would warn of a fall back to $37.01, potentially $33.62.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Natural Gas Futures: Further strength on the cards FX Street 3 years Brent Crude established a base a while ago although the rally is struggling near-term with trend resistance from June just below the $45 level capping. Strategists at Credit Suisse maintain a higher bias with the black gold rising to $47.71. Key quotes “We continue to give the upside the benefit of the doubt for now though with resistance seen next at $45.18/50 and then more importantly at the 200-day average at $47.71, which we look to then cap. A direct and closing break can see resistance next at the 61.8% retracement of the Q1 fall at $50.45.” “Support at $41.32… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
