Brent Oil tests the support – Analysis - 08-12-2017
Economies.com
2017-12-08 04:59AM UTC
Brent oil price tests the key resistance 62.35 now, accompanied by stochastic entering the overbought areas now, while the EMA50 meets the mentioned resistance to add more strength to it.
Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, which targets 60.95 followed by 59.81 levels mainly, noting that breaching 62.35 will stop the correctional bearish pressure and push the price to resume the main bullish trend again.
Expected trading range for today is between 59.80 support and 63.35 resistance.
Expected trend for today: Bearish
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