Technical Analysis: Brent oil again fails to cross $43.65/70 upside barrier
Price of Brent oil mark another failure to cross a three-week-old horizontal resistance on Friday. The black gold currently indicates pullback towards an ascending trend line from June 12, at $42.37. Though, the quote's further weakness will need validation from a bit shorter support line, at $42.15. In a case where the bears dominate past-$42.15, the energy benchmark becomes vulnerable to drop towards $40.00 with June 25 bottom around $39.28 be the key afterward.
Meanwhile, an upside clearance of $43.70 will aim for the March 06 low near $45.50. However, $44.00 and $45.00 might offer intermediate halts during the rise. Additionally, the oil price surge beyond $45.50 can challenge the March 02 bottom surrounding $48.75 with a $50.00 threshold in the eyes.