Brent oil price gets a negative motive – Analysis – 10/02/2020

a-1Brent oil price completed forming bearish flag pattern that its signs appear on the chart, which supports the expectations of continuing the decline on the intraday and short term basis, as the price moves organized inside the bearish channel that has negative targets that reach 52.00.

Therefore, the bearish trend will remain suggested in the upcoming period supported by the negative pressure formed by the EMA50, reminding you that it is important to hold below 56.00 to continue the expected decline.

The expected trading range for today is between 53.00 support and 55.50 resistance.

The expected trend for today: Bearish

Origin: Economies

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