Brent oil price begins negatively – Analysis - 13-11-2020
Economies.com
2020-11-13 05:32AM UTC
Brent oil price opens today’s trading with bearish bias to attack 43.00 level, which hints the price head to achieve intraday bearish correction, but we suggest the bullish rebound from the intraday bullish channel’s support area that appears on the chart, which represent the meeting point of this support with the EMA50 and the previously breached resistance at 42.10.
Therefore, the overall bullish trend will remain suggested for the upcoming period unless breaking 42.10 and holding below it, noting that our next main target extends to 46.50.
The expected trading range for today is between 41.60 support and 45.00 resistance.
The expected trend for today: Bullish
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