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Arazmajeed
Dec 19, 2023 12:44 PM

UK BRENT OIL 4H : Downward  Short

BRENT CRUDE OILTVC

Description

UK BRENT OIL

New forecast

The price of Brent crude futures rose in yesterday's trading after reaching the support level at 78.87, then rebounded downward and settled below, waiting for the resumption of the main downward trend, heading towards achieving negative targets starting at 76.57 and extending far to 74.10.

Therefore the downward scenario will be remain valid and effective during coming period , Keeping in mind that breaking 78.87 level and holding above it will stop the downward trend.


The expected trading range for today is between support 74.10 and resistance 778.87 until stabilized .

Additionally ,Today News will affect on the market .

support line : 76.57 , 74.10
resistance line : 78.87 , 80.00

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Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Comments
suddenCode21082
Is this possible?
LegionQ8
Your idea of USOIL looks cool! 🔥 But in my mind it only can go down in the channel, without zigzag movements
Arazmajeed
@LegionQ8 thank you so much,
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