Brent oil price faces solid resistance – Analysis – 12/10/2021

brent_1Brent oil price found solid resistance around 84.20, to head towards starting intraday bearish wave that we expect to target visiting 80.85 and might reach 79.25 before attempting to return to resume the main bullish track again.

Therefore, the bearish bias will be suggested for today, noting that breaching 84.20 will stop the suggested negative scenario and lead the price to achieve new gains on the intraday and short term basis.

The expected trading range for today is between 81.50 support and 84.40 resistance.

The expected trend for today: Bearish

Origin: Economies

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