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Brent oil price approaches the resistance – Analysis - 12-09-2023
Brent oil price recent trades are confined within the triangle that appears on the chart, and the price reaches the key resistance 91.50 now, which urges caution from the upcoming trading, as continuing the rise and breaching this level will lead the price to resume the main bullish trend and head to achieve new gains that start at 93.00.
Note that we continue to suggest the intraday bearish trend until now, conditioned by the price stability below 91.50, noting that the waited targets start by breaking 90.50 to confirm rallying towards 89.25 as a first correctional station.
The expected trading range for today is between 89.50 support and 92.30 resistance.
The expected trend for today: Bearish
Crude oil price attempts positively – Analysis - 12-09-2023
Crude oil price fluctuates with slight positivity now, and it might test the key resistance 88.18 before turning back to decline again, as it is affected by stochastic positivity.
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