Brent Rebounding After Heavy Losses


Brent Crude for December delivery rebounded to 110.71 on Monday after heavy losses and selloff on Friday last week. WTI Crude traded in US also gained to 90.70 after initially falling 2.2% on 19th October which was the lowest close in 10 days.

The spread between European and US instruments traded at $19.63.

Current support on the downside for Brent crude is located at 110.14 followed by 107.67 and 106.64. Alternatively resistance on the upside is located at 112.16 followed by 112.95 and 114.95.

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