SINGAPORE: Brent oil may break a support at $60.27 per barrel and fall into the $58.41-$59.12 range.

The deep drop on Tuesday confirms an extension of the downtrend towards the target zone, which is suggested by a falling channel.

A bounce from the current level may be limited to a resistance at $61.42. A further gain could end in the range of $62.13-$62.71.

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