Brent oil price breaks the support – Analysis – 18/09/2018

brent_1Brent oil price closed yesterday’s trading below 78.05, to fall under potential negative pressure that we expect to push the price to test the key support 76.47 in the upcoming sessions, supported by moving below the EMA50.

Therefore, the bearish trend will be expected for today, noting that breaching 78.05 followed by 78.75 levels will stop the current negative pressure and push the price back to rise again.

Expected trading range for today is between 76.00 support and 79.00 resistance.

Expected trend for today: Bearish

Brent oil price breaks the support – Analysis - 18-09-2018

Origin: Economies

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