Brent oil price gets a negative motive – Analysis – 11/02/2019

a-1Brent oil price shows sideways trading in the previous sessions, and the price still below the previously broken bullish channel’s support line, besides that it broke a minor rising wedge’s support line, accompanied by witnessing negative signals by stochastic now.

Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming period, reminding you that our next main target is located at 59.55, while achieving it conditions holding below 63.10.

The expected trading range for today is between 59.00 support and 62.50 resistance.

The expected trend for today: Bearish

Brent oil price gets a negative motive – Analysis - 11-02-2019

Origin: Economies

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