Rebound which lasted 10 days is now only a memory and oil returned to downtrend. So far price stayed above 30.00 level however there isn’t any optimistic sign for the bulls. It is likely that side trend between 27.30 and 36.10 will be continued. In this area price moved since a month.

If supply breaks below support, nearest target for falls will be 29.30, but a great battle of demand and supply will take place at 27.30. Alternatively if demand defends that support next resistances will be located at levels: 32.30, 33.50, 34.60, 36.10.

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Time-frame H1

OIL-brent-H1

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