Brent oil begins to test the support – Analysis - 15-08-2018
Economies.com
2018-08-15 04:18AM UTC
Brent oil price bounced bearishly after testing 74.00 level yesterday, to reach the key support 72.00 now, as it falls under the negative pressure formed by the EMA50, to support the chances of breaking the mentioned support and extend the bearish wave towards our negative targets that begin at 70.00 followed by 67.50.
Therefore, the bearish trend will remain dominant in the upcoming sessions unless we witnessed a clear breach and hold above 74.00 level.
Expected trading range for today is between 70.00 support and 73.50 resistance.
Expected trend for today: Bearish
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