Brent Crude: Possible Drop Ahead?

<p>Good day,</p>
<p>The price of Brent crude has formed a wedge pattern on the daily chart. Last week the asset broke this very wedge down and pulled back to it. The 43.67 level provides required resistance. It is possible that oil might drop till the 32.80 supporting level, which also acts as a broken neckline of reversal figure:</p>
<p><img class="alignnone size-full wp-image-47348" src="http://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-1.png" alt="" width="1094" height="511" srcset="https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-1.png 1094w, https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-1-300×140.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-1-1024×478.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-1-768×359.png 768w" sizes="(max-width: 1094px) 100vw, 1094px" /></p>
<p>Successful swing (double bottom)</p>
<p>The British currency is slowly approaching a very important daily downtrend, away from which it might pull and drop. A false breakout of the downtrend could also happen. In this case, British pound might touch the resistance at the level of 1.2750:</p>
<p><img class="alignnone size-full wp-image-47349" src="http://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-2.png" alt="" width="1094" height="511" srcset="https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-2.png 1094w, https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-2-300×140.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-2-1024×478.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-2-768×359.png 768w" sizes="(max-width: 1094px) 100vw, 1094px" /></p>
<p>Having broken the 18.945 level, silver pulled back to the broken horizontal and jumped. Now, silver might head up considering its current position in uptrend:</p>
<p><img class="alignnone size-full wp-image-47350" src="http://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-3.png" alt="" width="1094" height="511" srcset="https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-3.png 1094w, https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-3-300×140.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-3-1024×478.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/07/jul-20-3-768×359.png 768w" sizes="(max-width: 1094px) 100vw, 1094px" /></p>
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