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If 57.80 breaks in Brent, watch out!

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March 10, 2015 57.8, brent, brent crude, commodity, commodity trading, content, crude, crude oil, dollar, dollar oil, forex, fx, inventories, inventory, news, oil, oil decline, oil dollar, oil dollars, oil price, oil prices, oil target, oil trades, ole hansen, option expiry, saxo tv, spread, strike price, support, target, technical, trades, trading, tradingfloor.com, tv, usd, usd oil, video, weak oil, weakness, west texas intermediate, wti, wti crude
Traders beware! If Brent falls through the support level of USD 57.80, we could see more significant declines in the coming days. Saxo Bank's Head of Commodity Strategy, Ole Hansen, tells us what to expect. 
Brent futures fell to the lowest level in two weeks on Wednesday, not least because of a strong dollar. Traders are waiting for the weekly inventory level report which will give more clues to how strong demand is for oil.