XBRUSD: Two-sided analysis

XBRUSD, H1

On the H1, XBRUSD has formed a falling wedge pattern. The price has reached the upper trend line and MA50. Momentum has risen above 100.0, although %R has reached a sizeable overbought level.

• If the price breaks the trend line above 72.30 and MA50, the upside will be up to 73.10;

• A bounce from the trendline will drop Brent back to 71.50;