Brent oil price begins negatively – Analysis – 12-06-2019

Brent_newsBrent oil price begins today’s trading with clear negativity on its way to visit 59.93 level that represents our first main negative target, and the price falls under continuous negative pressure coming by the EMA50, which supports the chances of breaking the mentioned level and open the way to extend the bearish wave to reach 56.23 that represents our next main target.

Therefore, the bearish trend will remain suggested in the upcoming sessions unless the price rallie to breach 62.92 level and holding with a daily close above it.

The expected trading range for today is between 59.00 support and 62.00 resistance.

The expected trend for today: Bearish

Brent oil price begins negatively – Analysis - 12-06-2019

Origin: Economies

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