Brent's April 17 Low Is Back in PlayUK Crude Oil CFDFOREXCOM:UKOILFOREXcomOur Brent crude contract is testing the April 17 low at $82.10, marking another occasion when we saw a raft of "Hormuz open" headlines, including from Donald Trump. If energy traders feel the latest MOU may actually lead to a lasting peace, you'd imagine the price would break beneath it. Should we see a break and hold below $82.10, shorts could be set with a tight stop above for protection, targeting $80.20. That level acted as both support and resistance early in the conflict, ahead of the psychologically important $80 big figure. Beneath those levels, the 200-day moving average and the opening gap from the day before the war started at $73.55 are the next to watch. Both RSI (14) and MACD are sending a uniformly bearish message. RSI is trending lower beneath 50 but is not yet oversold, while MACD is confirming the move, pushing further away from the signal line in negative territory. If, for whatever reason, the price cannot sustainably break beneath $82.10 a barrel, the bearish bias would be invalidated. Good luck! DS