Brent Oil Price Analysis
Expected Scenario
Brent oil price couldn’t manage to confirm breaching $84.77 level, to rebound downwards clearly and settle near the EMA50, to fall under expected negative pressure in the upcoming sessions and head towards targeting $82.45 initially, noting that breaking this level will push the price to suffer additional losses that reach $80.08.
Therefore, we expect to witness more decline in the upcoming sessions unless the price rallied to breach $84.77 and hold above it.
Expected Trading Range
Between $82.00 support and $84.90 resistance.
Trend Forecast: Bearish
Origin: Economies
