UK BRENT OIL
New forecast
The price of Brent crude oil futures bounced significantly lower, breaking the 78.32 level. We note that the price begins today with more negativity, breaking this level and trying to hold below it, which stops the proposed positive scenario and puts pressure on the price to resume the downward trend, heading towards visiting the 76.16 areas, then 75.30 and 74.10 as negative stations. deification. but to confirm the bearish trend should stable under 77.33 level and then our targets will be activate .
Therefore the downward scenario will be more likely during coming period , 50 moving average now forms negative pressure to support the continuation of the expected decline, taking into account that failure to confirm a break of 77.33 level will lead the price to begin recovery attempts and head to test the 78.87 level initially.
The expected trading range for today is between support 74.10 and resistance 78.87 .
support line : 77.33 , 76.16
resistance line : 78.87 , 80.00
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New forecast
The price of Brent crude oil futures bounced significantly lower, breaking the 78.32 level. We note that the price begins today with more negativity, breaking this level and trying to hold below it, which stops the proposed positive scenario and puts pressure on the price to resume the downward trend, heading towards visiting the 76.16 areas, then 75.30 and 74.10 as negative stations. deification. but to confirm the bearish trend should stable under 77.33 level and then our targets will be activate .
Therefore the downward scenario will be more likely during coming period , 50 moving average now forms negative pressure to support the continuation of the expected decline, taking into account that failure to confirm a break of 77.33 level will lead the price to begin recovery attempts and head to test the 78.87 level initially.
The expected trading range for today is between support 74.10 and resistance 78.87 .
support line : 77.33 , 76.16
resistance line : 78.87 , 80.00
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
