Oil prices have been under tremendous pressure over recent weeks, as fears over weak global consumption and supply issues spook investors. Brent oil price technical analysis shows that more weakness towards the $49.00 level remains possible while price trades below the $56.20 level. Brent oil price analysis shows that sellers are in control over the medium term while price trades below the $62.00 resistance area. After reaching the $71.00 level in January, Brent oil prices are now trading down by around 20 per cent and remain vulnerable to more losses. The daily time frame shows that a bearish head-and-shoulders ... (full story)