Brent oil touches the target – Analysis – 06/06/2018

Brent_newsBrent oil price managed to touch our first waited target at 74.23 and settles near it, noticing that the EMA50 forms continuous negative pressure against the price, to keep the chances valid to resume the bearish trend, noting that breaking the mentioned level will push the price towards 72.18 followed by 70.13 levels mainly.

Therefore, our bearish overview will remain valid for today unless breaching 76.77 level and holding above it.

Expected trading range for today is between 73.00 support and 76.77 resistance.

Brent oil touches the target – Analysis - 06-06-2018

Origin: Economies

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