Brent Oil was trading 0.53% down at $83.26.
Oil prices dropped on Monday as China’s release of gasoline and diesel reserves eased concerns over tight global supply, while investors cashed in ahead of a Nov. 4 meeting of major crude producers that could increase future production targets.
Brent Oil, RSI Stood at 53.904, the current price is trading above the Moving Averages 20 & 50. So, a Buy trade can be executed with the following target and stop-loss:
Trade Signal - Brent Oil– Buy: 83.20, Target :-89.20, Stop Loss:- 80.20.