Pivot point: 70.50
The expected scenario: entering into buying deals at the highest levels of 70.50, targeting the levels of $76.
Alternative scenario: entering short deals below 70.50, targeting the $65 levels.
Commentary: Brent crude witnessed a breach of the descending price channel, during last week's trading, to settle at the highest levels of 70.50, and thus breached the moving averages (50-100), In a confirmatory sign of more gains in the short term, especially in light of the positive deviation in the liquidity flow indicator, which supports the positive outlook for Brent crude trading in the short term.
