Brent oil price breaks the channel’s support – Analysis - 01-12-2020
Economies.com
2020-12-01 05:00AM UTC
Brent oil price shows negative trades to break the bullish channel’s support line and moves below it now, which supports the continuation of our intraday bearish trend, which targets testing 45.88 level initially, noting that breaking this level will extend the correctional bearish wave to reach 43.94 as a next negative station.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 48.15 level and hold above it.
The expected trading range for today is between 45.88 support and 48.70 resistance.
The expected trend for today: Bearish
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