Brent oil price begins bearish correction – Analysis - 20-09-2023
2023-09-20 03:48AM UTC

Brent oil price’s rise stopped at 96.00$ barrier, to rebound downwards clearly and break the intraday bullish channel’s support line that appears on the chart, noticing that the price begins today with additional strong decline to confirm starting bearish correction for the rise measured from 82.00 to 96.05, waiting to visit 92.74 as a first station.


Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that breaching 94.10 will stop the current negative pressure and lead the price to attempt to resume the main bullish trend again.



The expected trading range for today is between 91.80 support and 94.90 resistance.


The expected trend for today: Bearish

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