Brent Crude Goes Harmonic.
For Brent Blend, in this uncertain global economy as a result of US-China Trade war,
For Brent Blend, in this uncertain global economy as a result of US-China Trade war, there comes some rebounding in prices as it completed a harmonic pattern with target prices of 66.868 and 69.438 as first and second targets respetively. The pattern will be invalid below 61.479, also can be taken as it's stop-order. Chart shows 4hour time-frame.
In addition, Saudi, leader of OPEC, also indicated that OPEC and other oil pruducers, including Russia, would continue to manage oil output and supplies in order to avoid surplus situations. This made oil prices to jump after last week's heavy losses.