Brent oil price breaks the support – Analysis – 30/03/2020

a-1Brent oil price broke 28.30 level strongly and settled below it, opening today with bearish gap that puts the price below 27.10 level, which confirms the turn to decline, on its way to achieve more negative targets that reach the recently recorded low at 25.84, noting that surpassing this level will push the price to 24.70 level as a next negative target.

Therefore, the bearish trend will be dominant in the upcoming sessions unless the price rallied to breach 28.90 level and hold above it.

The expected trading range for today is between 24.70 support and 28.30 resistance.

The expected trend for today: Bearish

Origin: Economies

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