XBRUSD: Global trend test

XBRUSD, Daily

In the Daily timeframe, XBRUSD is forming a descending triangle, but the price has reached the upper trendline, testing a critical resistance level. Despite the bullish momentum, the Stochastic indicates overbought.

• A break of the trend line above 75.00 will start XBRUSD rising to 77.20;

• A rebound from the trendline will drop Brent back to 70.80;