Brent oil price tests the resistance – Analysis - 18-08-2022
Economies.com
2022-08-18 04:13AM UTC
Brent oil price tests the main bearish channel’s resistance and settles there now, accompanied by stochastic loss to the positive momentum clearly, waiting to motivate the price to resume the main bearish trend, which its next target located at 92.00.
The EMA50 supports the expected decline, noting that breaching 95.60 will push the price to start recovery attempts and achieve gains that start at 97.95.
The expected trading range for today is between 93.00 support and 97.00 resistance.
The expected trend for today: Bearish
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