Brent crude oil price settled low in last intraday trading, but leaned on EMA50 for support
Analysis suggests bullish correctional trend on short-term basis, with RSI reaching oversold levels
The (Brent) price settled low in its last intraday trading, after gaining some positive momentum due to its lean on the support of its EMA50, which helped it to stop the losses bleeding in its previous trading, in an attempt to look for a base to support it to rise again, amid the dominance of the bullish correctional trend on the short-term basis and its trading alongside a bias line, noticing that the (RSI) reached oversold levels, exaggeratedly compared to the price move.
Origin: Economies
