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Dialling down on Momentum

The RSI has also fallen in line with prices but remains above 30 (oversold territory), suggesting further room for downside price action....
Published: June 16, 2026
Written by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
and
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
9 page report
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M1 Brent crude futures met resistance at the 10-day MA (orange line) for most of last week, with prices ultimately dropping from this level (around $93-95/bbl) to closing at $89/bbl on 11 Jun. This weakness persisted this week, with prices standing at $82.10/bbl at the time of writing on 16 Jun. Support now stands at the critical $80/bbl handle and at $75/bbl, the latter based on pre-war levels...

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Written by

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi

Donna Dong

Research Analyst, Flux
Donna Dong

About Technical Analysis Report

A weekly premium report comprising movements in price action across key swaps and futures contracts

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