The price of Brent crude futures approached our expected negative target at 85.32 and rebounded sharply to penetrate the 88.38 level and stabilize around it, which prompts the price to try to stop the downward correction that is dominating recent trading.
Therefore, we expect to witness further decline during the coming sessions, but on the condition that the price continues below 88.38 to reach 86.93 again, and by breaking it, it will reach 85.32, taking into account that consolidation above 89.55 will put pressure on the price to continue positive trading and head to visit the 91.00 areas in a way Main.
The expected trading range for today is between support 85.32 and resistance 89.55 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 86.93 , 85.32 resistance line : 88.38 , 89.55
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Trade closed: target reached
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UK BRENT OIL
The price perfectly fulfills my last idea and price reached to our first target +140 pip .
Trade closed: target reached
⋅
UK OIL
New forecast
The price perfectly fulfills my last idea and price reached to our first target +140 pip .
The price of Brent crude futures reached to our expected negative target at 86.93 and rebounded sharply to reach the 88.38 level and stabilize around it, which prompts the price to try to stop the downward correction that is dominating recent trading.
Therefore, we expect to witness further decline during the coming sessions, but on the condition that the price continues below 88.38 to reach 86.93 again, and by breaking it, it will reach 85.32, taking into account that consolidation above 89.55 will put pressure on the price to continue positive trading and head to visit the 91.00 areas in a way Main.
The expected trading range for today is between support 86.93 and resistance 91.00 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 88.38 , 86.93 , resistance line : 89.55 , 91.00
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
⋅
UK BRENT OIL
The price perfectly fulfills my last idea and price reached to our first target +185 pip and then rebounded because of the war between Palestine and Israel and we will see more bullish during coming days .