Brent remained in the red on Monday. The benchmark was hanging around the Friday's highs in the first part of the day. The selling pressure emerged ahead if the NY opening and the rate sharply dropped to the 71.50 where it faced buying rejection and spiked back to 72.50. The EMA50 accelerated its negative slide, the EMA200 is slowly moving downwards while the EMA100 is still neutral. MACD is growing in the negative area, reflecting the strength of buyers. RSI lost the downward strength and is around 50 right now. The resistance stands at 73.50, the support is at 72.50.
Brent may continue its decline and touch the 70.50 level in the coming days.