12:48, 07 May
Oil prices snapped its five-day winning streak despite a weekly inventory report showing stockpiles rose less than expected last week. U.S. oil inventories rose by 4.6 million barrels in the week ended May 1, according to the Energy Information Administration, less than the 7.76 million-barrel.
We follow 29.00 and 28.00 as a support level for the Brent oil. We think that any down movements can give a buying opportunities, if the index stays above the these levels.
Resistance levels : 30.40 – 31.00 – 32.00
Support levels : 29.00 - 28.00 – 26.80