Brent oil price presses on the support – Analysis – 06/06/2019

forex_news_neftBrent oil price attempts to break 59.93 level but without managing to hold below it until now, and the price needs to get negative motive that reinforces the chances of confirming the break followed by rallying towards achieving more negative targets on the intraday and short term basis, noting that the next station reaches 56.23.

Therefore, we will continue to suggest the bearish trend in the upcoming sessions unless the price rallied to breach 62.92 and hold with a daily close above it.

The expected trading range for today is between 58.70 support and 61.50 resistance.

The expected trend for today: Bearish

Brent oil price presses on the support – Analysis - 06-06-2019

Origin: Economies

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