Brent is extending the down move after breaching below the advocated level of $35, 2008 lows and also a horizontal support consisting of 2000 highs, notes SocGen. "It is quite common to witness extended down moves in last leg of downtrends, which are associated with frenzy selling. Brent appears to be currently in that state and is approaching near a significant graphic support zone at $27.25/$25.00, the massive descending channel support drawn from 2008 highs (in log scale) which intercepts 2003 lows and 1997 high," SocGen projects. "Monthly indicator RSI is probing a multi-decadal support (blue dash line) but is ... (full story)