BRENT Crude Technical Snap 07.05.19

BRENT Crude Technical Snap (Daily)

Pivot: 70.70

Our preference: long positions above 70.70 with targets at 71.75 & 72.30 in extension.

Alternative scenario: below 70.70 look for further downside with 70.05 & 69.50 as targets.

Comment: the RSI has just landed on its neutrality area at 50% and is turning up.