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Brent Crude Oil approaching support, potential for a bounce!

Oleh Tickmill
Broker
BCOUSD is approaching strong support at 63.54 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a nice bounce could potentially occur at this level to push price up to major resistance at 66.35 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).

Stochastic (34,5,3) is seeing major support above 2.1% where a corresponding bounce could occur.

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Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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