Brent oil price tests the resistance – Analysis - 21-08-2019
Economies.com
2019-08-21 04:54AM UTC
Brent oil price tests the key resistance 59.93 now, accompanied by witnessing clear overbought signals through stochastic, waiting to assist to push the price to rebound bearishly and resume the main bearish trend, which its first target located at 56.23.
We should note that the continuation of the bullish bias and confirming breaching 59.93 will stop the suggested negative scenario and lead the price to visit 62.92 level initially.
The expected trading range for today is between 58.00 support and 61.00 resistance.
The expected trend for today: Bearish
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