Brent oil price breaks the support – Analysis – 13/08/2021

neft-l4Brent oil price opened today’s trading with clear negativity to break 71.20 and settles below it, which stops the positive scenario suggested yesterday and press on the price to turn to decline, on its way to achieve negative targets that start at 69.65 and extend to 67.70 after breaking the previous level.

Moving below the EMA50 supports the expected bearish trend for today, which will remain valid conditioned by the price stability below 71.20.

The expected trading range for today is between 69.30 support and 72.00 resistance.

The expected trend for today: Bearish

Origin: Economies

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