UK Brent Oil 4H : failure to stable at the bullish channel
UK BRENT OIL
New forecast
The price of Brent crude oil contracts was not able to hold for long above the support of the ascending channel, trading negatively and heading towards a possible test of the pivotal support 89.55.
The conflict between technical factors makes us prefer to remain neutral until we get a clearer signal for the next trend, noting that breaking support 89.55 is the key to resuming the downward correction and achieving negative targets starting at 88.38 and extending to 86.93 in the near term .but if price failure to breach the support 89.55 and stabilized under it then the price will try to rise up and start a correction to 91.00.
The expected trading range for today is between support 89.55 and resistance 91.00 until breaching one of them .
Additionally ,Today News will affect the market .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 89.55 , 88.38
resistance line : 91.00 , 92.52
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price of Brent crude oil contracts was not able to hold for long above the support of the ascending channel, trading negatively and heading towards a possible test of the pivotal support 89.55.
The conflict between technical factors makes us prefer to remain neutral until we get a clearer signal for the next trend, noting that breaking support 89.55 is the key to resuming the downward correction and achieving negative targets starting at 88.38 and extending to 86.93 in the near term .but if price failure to breach the support 89.55 and stabilized under it then the price will try to rise up and start a correction to 91.00.
The expected trading range for today is between support 89.55 and resistance 91.00 until breaching one of them .
Additionally ,Today News will affect the market .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 89.55 , 88.38
resistance line : 91.00 , 92.52
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
