Oil Forecast: Potential Jump Ahead?
Good day,
The price of the Euro broke the downtrend, pulling back from it. As the asset’s price has dropped, we feel that the asset could retest the broken downtrend soon and jump. Also, the level of 1.2000 is providing an important resistance level.
The USD/RUB did not drop. The breakout supporting level of 77.00 and uptrend was also false. A very strong psychological level of 80.00 might provide required resistance and not get broken easily. The asset might potentially pull from the level of 80.
BRENT oil has dropped. It is now targeting the supporting level of 38.39 away from which it might jump anytime soon.
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