The move to 31.02 looks exhaustive and analysts at Commerzbank look for the market to now consolidate these losses. Brent Oil is trading at 35.757 after recovering in the last hours. Key quotes “The massive gap lower seen on the oil market is exhaustive – it has sold off to a cluster of Fibonacci extensions, we have a 13 count and the daily RSI is down to 10.” “Initial resistance will be the 41.01 December 2018 low and the intraday Elliott wave count is suggesting that rallies will struggle to clear the 38.2% retracement of the move at 41.83.” “Below 30.00 we have the 27.10 2016 low and the 23.05 April 2003 low.” 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 EUR/JPY Price Analysis: Further weakness could extend to 115.80 FX Street 3 years The move to 31.02 looks exhaustive and analysts at Commerzbank look for the market to now consolidate these losses. Brent Oil is trading at 35.757 after recovering in the last hours. Key quotes “The massive gap lower seen on the oil market is exhaustive – it has sold off to a cluster of Fibonacci extensions, we have a 13 count and the daily RSI is down to 10.” “Initial resistance will be the 41.01 December 2018 low and the intraday Elliott wave count is suggesting that rallies will struggle to clear the 38.2% retracement of the move at 41.83.” “Below… 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.
