Brent Oil gets a negative signal – Analysis - 11/02/2016
Economies.com
2016-02-11 05:54AM UTC
Brent oil price keeps fluctuating near the resistance level, noticing that stochastic begins to provide negative overlapping signal on the four hours time frame, which supports the continuation of our bearish trend expectations on the short and medium term basis, and the way open for heading towards the recently recorded bottom at 27.09 in the upcoming period.
The EMA50 keeps pushing negatively on the price to support the suggested decline, which its continuation conditioned by holding below 32.23 level.
Expected trading range for today is between 28.00 support and 32.23 resistance.
Expected trend for today: Bearish
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