Brent oil price declines strongly – Analysis - 12-09-2019
Economies.com
2019-09-12 05:13AM UTC
Brent oil price declined strongly yesterday after US president Trump decided to study easing sanctions on Iran, which pushed the price to reach the key support 59.93, accompanied by stochastic reach to the oversold areas, waiting to motivate the price to rebound bullishly and resume the bullish trend again.
Therefore, we will keep our overall bullish overview conditioned by the price stability above 59.93, noting that our first main target is located at 62.92.
The expected trading range for today is between 59.50 support and 62.92 resistance.
The expected trend for today: Bullish
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