Brent Crude Prices May Not Make It Out of the Recession Scenario
Brent crude prices are trying to get away from the recession scenario they have stuck in. And they managed to climb above $76-78 per barrel, which was an important resistance level. With these efforts, they are looking towards $86-88 per barrel, and may even succeed. But the load of economic troubles surrounding global economy may drag them down below $76-78 per barrel. If this happens it will be a nice opportunity to open short positions. The entry point is seen at $76 per barrel, the target – at $68, and the stop-loss – at $80 per barrel.
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