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Brent (ICE) (Z3) MT: bullish bias above 80.00.

2023-10-23
1125

Pivot: 80.00

Our preference: long positions above 80.00 with targets at 99.00 & 110.00 in extension.

Alternative scenario: below 80.00 look for further downside with 71.50 & 62.00 as targets.

Comment: a support base at 80.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances:

124.00 **

110.00 ***

99.00 ***

91.35 Last

80.00 ***

71.50 ***

62.00 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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