Brent (ICE) may fall to 84.30 - 84.65

Pivot

85.40

Our preference

Short positions below 85.40 with targets at 84.65 & 84.30 in extension.

Alternative scenario

Above 85.40 look for further upside with 85.85 & 86.20 as targets.

Comment

Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances

86.20

85.85

85.40

85.18 Last

84.65

84.30

83.85

Number of asterisks represents the strength of support and resistance levels.