Brent oil price hits the target – Analysis – 09/11/2018

neft-l4Brent oil price succeeded to reach our main waited target at 70.30 and settles near it, and the price continues to move inside the bearish channel that appears on the chart, which has negative targets that extend to reach 68.30 as a next main station.

Therefore, we believe that the chances are valid to continue the decline in the upcoming period, noting that the continuation of the negative scenario depends on the price stability below 72.85 and the most important 74.16.

Expected trading range for today is between 69.00 support and 72.00 resistance.

Expected trend for today: Bearish

Brent oil price hits the target – Analysis - 09-11-2018

Origin: Economies

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