Commodities

Brent oil price under the negative pressure – Analysis - 19-07-2019

2019-07-19 04:56:07 GMT (Economies.com)

Brent oil price broke 62.92 level strongly and declined to 61.00 areas yesterday, which puts the price under the expected negative pressure in the upcoming period, as the next negative target is located at 59.93.

 

The price is retesting 62.92 level that was broken previously, noting that holding below this level will keep the bearish trend scenario active for the upcoming period, as breaching it will push the price to regain the bullish trend and achieve positive targets that start at 64.50 and extend to 65.92.

 

The expected trading range for today is between 61.00 support and 64.00 resistance.

 

The expected trend for today: Bearish

More Analysis

Risk Disclaimer : Enzious Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.