BRENT CRUDE OIL(USOIL): TOO HARD TO DIE?
LONG TERM: The 12 years weekness of oil remains with extremes like the one we witnnessed in March 2020.Long term trend remains bearish unless the 62$ level will upside broken,then trend will be changed aiming 75$ and 110$.We are for the last three monts facing the mid term change of trend with the above mentioned targets.First and second targets accomplished.For as long as oil’s technical formation has created a double top (stands below 93$),possible correction towards 75$ and 65$ in sight.
SHORT TERM: Stop loss at 83.60$ activated.We can try going short at the downwards break of 77.00$ aiming 67.00$.
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