Posted by DickyMe > 2019-02-11 15:56 | Report Abuse

https://i.postimg.cc/PrtMBR2L/Brent-Down-Trend.jpg

Brent slow and steady slide perhaps a new low than previous low of $17.10.

Week beginning 18 Jan 2016 - Brent made a low @$27.10. It rose from there to $86.74 set in the week of 1st Oct 2018 and began to crumble.

Resistance @ $86.74, recent high, set in Oct 2018. Drop, erased more than 50% of gain from $27.10. Current slide found support around $50. Any attempt to rise, faces headwind and MAYNOT breach $70~ or even reach $86.74. Breaking $49 support, will send price tumbling below $27.10 which was set in 2016.

Technology is advancing, countries, especially Europe nations are heavily invested in research of alternative energy. Renewable energy is the future. Some nations are already using electric cars. Fossil fuel will go the way of DUTCH's TULIP.

Ringgit is recovering against USD$, expected to be around USD$1 = RM3.70. So, conversion rate will show poor revenue for O&G sector. Ki Ki Ki...