Brent oil price breaks the support – Analysis – 23/12/2019

neft-l2Brent oil price faced negative pressure to break 65.40 level and settles below it again, which leads the price to achieve more expected decline in the upcoming period, on its way for potential visit to the bullish channel’s support line that appears on the chart.

Therefore, we suggested witnessing negative trades today unless breaching 65.40 level and holding above it again, noting that the expected targets begin at 63.75 and extend to 62.50.

The expected trading range for today is between 63.00 support and 66.00 resistance.

The expected trend for today: Bearish

Origin: Economies

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