Brent oil presses on the support – Analysis - 10-08-2018
Economies.com
2018-08-10 03:40AM UTC
Brent oil price continues to fluctuate at 72.00 level and attempts to break it, to keep the bearish trend scenario valid for the upcoming period, supported by moving inside the bearish channel that appears on the chart, noting that our next target is located at 70.00.
Breaking the targeted level will extend Brent oil price losses to reach 67.50 as a next main station, while the expected decline will remain valid unless breaching 74.00 level and holding with a daily close above it.
Expected trading range for today is between 70.00 support and 73.50 resistance.
Expected trend for today: Bearish
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