Brent is at a bearish trend with the structure of lower lows and lower highs. The market at the resistance level will be the catalyst for our short sells from the resistance. The price will be at 82.70. From there onwards, the market will be down towards the support level.

The bearish flag is formed with the formation of upper and lower trendline. Once the ascending trendline is broken out for sells, the market will have a catalyst for another short sells.

The retracement level is at resistance level with the confluence of the market. This will add on to the bearish direction of the pair.

EMA 50 is still ranging. The resistance level if tapped, and the EMA 50 is broken down towards the bearish side, we have an additional confirmation.

RSI is at 47. It needs to retest at the 50 level for the neutralization, to align with the technical factors.

Brent at 82.70

Nov 23 2023