Brent oil - Waiting game
Pattern – Symmetrical Triangle inside falling channel
- Oil finds itself in a small symmetrical triangle formation with resistance at $47.73 and support at $46.56.
- A break on the lower side on daily closing basis would expose falling channel support seen at $45.40 levels.
- On the other hand, a bullish daily closing could yield a move to $48.44 (July 12 high).
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