Brent oil tests the resistance – Analysis - 07-08-2018
Economies.com
2018-08-07 04:20AM UTC
Brent oil price attempted to breach 74.00 level but it returns to settle below it, which keeps the bearish trend scenario valid until now, organized inside the bearish channel that appears on the chart, supported by stochastic negativity, waiting to target 72.00 followed by 70.00 levels as next main stations.
We should note that breaching 74.00 will stop the expected decline and push the price to achieve gains that start at 76.47.
Expected trading range for today is between 72.00 support and 75.00 resistance.
Expected trend for today: Bearish
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