-
Brent oil with a fresh sell signal
Brent oil has just triggered a fresh sell signal thanks to the huge drop it experienced yesterday. While it remains to be seen whether this signal will prove effective, the current bearish outlook looks promising. Brent oil has been in a downtrend since March 2022, which means it has been trending downwards for nearly a year now. Recently, sellers managed to defend the down trendline (marked in blue) that graphically represents the bearish sentiment in the market. Furthermore, the oil price is currently breaking out of a wedge pattern (marked in red), which is typically a sign of trend continuation and suggests a ... (full story)