BRENT Crude Technical Snap 02.04.19

BRENT Crude Technical Snap (Daily)

Pivot: 68.60

Our preference: long positions above 68.60 with targets at 69.65 & 70.30 in extension.

Alternative scenario: below 68.60 look for further downside with 68.20 & 67.75 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.