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Brent oil price breaks the bullish channel’s support line – Analysis - 18-06-2021
Brent oil price broke the bullish channel’s support line strongly and settled below it, starting today with additional decline to confirm the beginning of correctional bearish wave on the intraday basis, for the rise measured from 64.55 to 74.93, and the way is open now to head towards 70.96 as a next correctional station.
Therefore, we expect witnessing more decline in the upcoming sessions, noting that breaching 73.45 will stop the expected decline and lead the price to regain the main bullish trend again.
The expected trading range for today is between 71.00 support and 73.45 resistance.
The expected trend for today: Bearish
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