Brent oil price presses on the support – Analysis – 21/10/2019

a-1Brent oil price shows a bearish bias to begin pressing on the intraday bullish trend line that appears in the image, pointing that breaking 58.80 will support the expectations of the bearish trend continuation in the upcoming sessions, and its next target at 56.00.

Therefore, we will keep our bearish trend expectations unless the price rallied to breach 59.60 level and holding with a daily close above it.

The expected trading range for today is between 57.00 support and 60.00 resistance.

The expected trend for today: Bearish

Brent oil price presses on the support – Analysis - 21-10-2019

Origin: Economies

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