- Brent oil could re-test the falling (bearish) 50-hour moving average (MA), currently located at $75.26.
- The hourly chart shows a bullish divergence relative strength index (RSI). Further, oil has established a higher low pattern (also a bullish development).
Current Price: $74.25
Daily High: $74.46
Daily Low: $73.49
R1: $74.46 (Asian session high)
R2: $75.26 (50-hour moving average)
$3: $75.96 (5-day moving average)
S1: $73.94 (Asian session low)
S2: $73.07 (100-day moving average)
S3: $72.49 (June 18 low)
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