Brent oil found acceptance below the trendline sloping upwards from the Aug. 16 low and Sept. 21 low in Asia, having witnessed a bear flag breakdown yesterday and fell to $81.39 – the lowest level since Sept. 28. The 14-day relative strength index (RSI) is threatening to drop below 50.00, in bearish territory, having breached the rising trendline. The 5-day and 10-day exponential moving averages (EMAs) have produced a bearish crossover. Brent looks set to test key support at $80.48 (50% Fib R of $70.33/$76.71), albeit after a minor bounce, as the 14-hour RSI has dipped into oversold territory, below 30.00. Daily Chart Current Price: $81.82 Daily High: $82.61 Daily Low: $81.39 Trend: Bearish Resistance R1: $82.35 (previous day’s low) R2: $82.69 (Oct. 8 low) R3: $83.14 (5-day EMA + 10-day EMA) Support S1: $81.13 (Sept. 26 low) S2: $80.48 (38.2% Fib R of $70.33/$76.71) S3: $80.00 (psychological level) 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 Bitcoin Cash price analysis: BCH/USD breaks free from the range, bears are celebrating short-term victory FX Street 4 years Brent oil found acceptance below the trendline sloping upwards from the Aug. 16 low and Sept. 21 low in Asia, having witnessed a bear flag breakdown yesterday and fell to $81.39 - the lowest level since Sept. 28. The 14-day relative strength index (RSI) is threatening to drop below 50.00, in bearish territory, having breached the rising trendline. The 5-day and 10-day exponential moving averages (EMAs) have produced a bearish crossover. Brent looks set to test key support at $80.48 (50% Fib R of $70.33/$76.71), albeit after a minor bounce, as the 14-hour RSI has dipped into oversold territory, 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.
