The probability of decline remains.

On the weekly chart, the downward correction continues to develop as the second wave of the higher level (2) and wave C of (2). On the daily time interval, the fifth wave of a lower level v of C of (2) is formed, in which wave (iii) of v and the correction as wave (iv) of v are completed, and wave (v) of v is also developing. If the assumption is correct, the downward dynamics of the asset will intensify in the area of 55.00–45.00. The level of 68.60 is critical and stop-loss for this scenario.

Prices for the benchmark Brent Crude Oil grade are correcting in an upward trend just below the 66.00 mark.

Last week, Brent Crude Oil quotes resumed growth and are currently holding around 65.55, remaining within the early downtrend: the results of trade negotiations between the US and China support the quotes.