Commodities

Midday update for Brent oil 19-07-2019

2019-07-19 10:43:32 GMT (Economies.com)

Brent oil price settles below the key resistance 62.92, accompanied by stochastic loss to the positive momentum gradually, while the EMA50 keeps pressing negatively on the price.

 

Thus, we believe that the chances are valid to resume the bearish bias in the upcoming sessions, which targets visiting 59.93 level mainly, while achieving it conditions holding below 62.92.

 

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

 

The expected trend for today: Bearish

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