Brent Oil Analysis: Potential Price Rise Ahead
The price of the currency pair EUR/USD rebounded from the psychological level of 1.1000 and dropped. Currently, the asset is heading down. However, the asset’s price might gain the required support at the level of 1.0670, rebound, and rise. So, let’s observe what might happen next.
Last week, the price of Brent oil tried to rise. The bears seized the initiative and brought the asset’s price down to the supporting level of 77.00. The oil might potentially rebound, rise, and gain support at the level of 77.00.
The American stock index S&P500 has closely approached a very important and strong resistance level of 4607. The price of this index is likely to rebound from this level and drop. However, it is noteworthy that the asset might also manage to break resistance and rise. Hence, at this point, it would be important to follow the candlestick formations to understand whether the price of the index is going to head south or north.
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