The failed attempt of the Brent crude to stay above its 200 -day mobile average has reinforced the downward risks, preparing the stage for a continuous retirement towards key levels of support. With the lack of impulse, prices could return to the minimum of June unless short -term obstacles are exceeded in $ 69 and $ 72, indicate the FX analysts of Société Générale.
Attention to the $ 63 support while the Brent struggles to recover impulse
“Brent experienced a strong rebound last month, but the movement vanished about $ 81.40. It quickly gave the 200-DMA, highlighting a lack of bullish impulse. On previous occasions (June-June of 2024 and January 2025), Brent experienced a gradual extension in the fall after not being able to establish itself above the Ma.”
“The continuous fall will probably extend towards the minimum of June 63.30 $/63.00 and 58.40 $. The recent maximum pivot of $ 69 and the 200-DMA in $ 72 are short-term obstacles.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
