BRENT Weekly Forex Forecast 2nd December to 6th December by yshashmi37 on

Midterm forecast:

68.85 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 68.85 is broken.
Technical analysis:

The RSI support #1 at 37 is broken, so the probability of continuation of downtrend is increased.
While the RSI resistance #2 at 58 is not broken, the probability of price increase would be too low.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 26.

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