Brent oil reversed from the bottom of bearish trend channel, it is currently testing 200 day moving average. Price is close to three resistance levels (40.29-41.78-42.31) and 39.50 support. This outlook and close looking election result might cause undecided price movements this week.
Above 200 day moving average, 42.31 can be an important resistance. If price break above this level, 46.53 can become next target.
For downside moves, below 39.50, 36.30 (horizontal level) and 35.63 (lower band of bearish trend channel.) can be followed as next supports.
