SINGAPORE: Brent oil may stabilize in a support zone of $62.71-$63.29 per barrel and then retest a resistance at $65.15.

A correction from the March 8 high of $71.38 has completed. It is expected to be further reversed.

The completion has been confirmed by the relation between the wave c and the wave a.

A falling channel suggests a further bounce towards $66.30. A break below $62.71 could cause a fall into $61.42-$62.13 range.

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