Brent crude oil oil has broken below the key $83 support level. Société Générale strategists note that the next targets are $79.20/$77.50 and then $73.00.

Resistance stands at $86.80

“The breakdown below the September low confirms the ongoing decline. The next potential targets are $79.20/$77.50, the 50% retracement of the entire uptrend since 2020 and forecasts of $73.00.”

“Recent pivot high at $86.80 is near-term resistance.”

See: STI…

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