Brent oil price approaches the resistance – Analysis - 19-09-2023
2023-09-19 03:53AM UTC

Brent oil price leaned on the bullish channel’s support line again and begins to trade positively by today’s open, to approach the main bullish channel’s resistance at 95.20, waiting to surpass this level and open the way to rally towards 96.80 as a next main target.


The EMA50 continues to support the price from below to reinforce the chances of continuing the expected bullish trend, taking into consideration that breaking 94.05 will stop the expected rise and push the price to turn to decline.



The expected trading range for today is between 93.80 support and 96.80 resistance.


The expected trend for today: Bullish

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