Brent Crude Oil has broken through a lot of medium-term resistance levels clustered between $ 59.82 and $ 60.00 and the Credit Suisse strategists expect a next move towards $ 71.75.
“Brent Crude has forcefully broken its bullish ‘flag’ continuation pattern and has seen its expected breakout above the 78.6% retracement and February 2020 high at 59.82 / 60.00 to expose the $ 71.75 high for the year. last”.
“While a pullback from the $ 71.75 mark should be allowed, a break out of this zone may see the next resistance at 79.10$, which is the ‘measured flag goal’ “.
“The Key support remains at $ 54.60 / 48, that if it breaks it would annul the flag. However, this is not our base scenario. “
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