Brent oil breaks the support – Analysis – 04/06/2018

a-1Brent oil price ended last week below 76.77 level, which puts the pirce under expected negative pressure in the upcoming sessions, targeting testing 38.2% Fibonacci correction level at 74.23.

Therefore, the bearish bias will be suggested for today unless the price managed to step above 76.77 level and hold above it again.

Expected trading range for today is between 75.00 support and 77.50 resistance.

Brent oil breaks the support – Analysis - 04-06-2018

Origin: Economies

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