Brent oil price retests the broken support – Analysis – 11/02/2022

neft-l4Brent oil price bounced bearishly after retesting the broken support of the main bullish channel that appears on the chart, to keep the correctional bearish trend dominant on the intraday basis, on its way to visit 87.70 level mainly.

Stochastic supports the expected decline, noting that rallying to breach 92.60 will stop the negative overview and push the price back to the main bullish track.

The expected trading range for today is between 88.50 support and 91.50 resistance.

The expected trend for today: Bearish

Origin: Economies

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