Brent Oil loses momentum – Analysis - 11-12-2017
Economies.com
2017-12-11 04:55AM UTC
Brent oil price touched the correctional bearish channel's resistance that appears on the above chart and shows some slight bearish bias from there, which hints the price head to resume the correctional bearish bias that started after recording the recent top at 64.63, supported by the clear overbought signals that appear through stochastic.
Therefore, the bearish trend will remain expected in the upcoming sessions unless we witnessed clear breach and hold above 63.50, noting that our expected targets begin at 62.35 and extend to 60.95.
Expected trading range for today is between 61.00 support and 64.63 resistance.
Expected trend for today: Bearish
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