Brent oil price awaits more decline – Analysis – 22/04/2022

forex_news_neftBrent oil price provided sideways trades yesterday, fluctuating between the EMA50 and the previously broken bullish trend line, while stochastic continues to provide the negative signals on the four hours’ time frame.

Therefore, we believe that the chances valid to resume the expected bearish trend for the upcoming period, which targets testing 105.05 initially, while its continuation requires holding below 110.05.

The expected trading range for today is between 104.00 support and 110.05 resistance.

The expected trend for today: Bearish

Origin: Economies

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