Midday update for Brent oil 21-09-2020
Economies.com
2020-09-21 09:12AM UTC
Brent oil price faced strong negative pressure to break 43.00 level and settles below it now, which push the price to turn to decline, on its way to test 42.17 level initially, noting that breaking this level will extend the bearish wave to reach 41.14 as a next main station.
Moving below the EMA50 supports the expected decline, which will remain valid unless the price managed to breach 43.00 and hold above it again.
The expected trading range for today is between 41.50 support and 44.00 resistance.
The expected trend for today: Bearish
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