Brent oil price suffers sharp losses – Analysis – 25/06/2020

forex_news_neftBrent oil price declined strongly yesterday to surpass our first suggested target at 41.15 and settles around 40.00$ per barrel barrier now, falling under continuous negative pressure that supports the expectations of continuing the decline in the upcoming sessions, and the way is open to head towards our next main target at 37.86.

Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 41.20, as breaching this level represents positive key that will lead the price to visit 43.38 areas initially.

The expected trading range for today is between 37.86 support and 41.20 resistance.

The expected trend for today: Bearish

Origin: Economies

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