Brent oil price achieves some gains – Analysis – 12/02/2020

Brent_newsBrent oil price shows positive trading by today’s opening to test 55.00$ barrier now, noticing that stochastic moves near the overbought areas, which supports the chnaces of resuming the main bearish trend, which gets continuous support by the EMA50, waiting to head towards 52.00 that represents our next main station.

The bearish channel continues to organize the suggested bearish wave, which will remain valid unless the price rallied to breach 56.00 and hold above it.

The expected trading range for today is between 53.00 support and 56.00 resistance.

The expected trend for today: Bearish

Origin: Economies

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