Brent oil price hits the extended target – Analysis - 08-12-2022
Economies.com
2022-12-08 04:31AM UTC
Brent oil price provided new strong negative trades to succeed achieving our waited target at 77.20, showing some bullish bias affected by stochastic positivity, while the overall bearish trend scenario still valid for the upcoming period within the bearish channel that appears on the chart, waiting to visit 74.40 as a next main target.
Holding below 80.15 represents major condition to continue the expected decline, as breaching it will lead the price to start correctional bullish wave on the intraday basis.
The expected trading range for today is between 76.00 support and 79.50 resistance.
The expected trend for today: Bearish
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