Brent oil price breaks the support – Analysis - 26-08-2019
Economies.com
2019-08-26 05:14AM UTC
Brent oil price managed to break the intraday bullish trend line mentioned in our recent reports to trade with clear negativity and settles near 58.00$ barrier, which supports the expectations of continuing the bearish trend, falling under continuous negative pressure coming by the EMA50, reinforcing the chances of heading towards our next target at 56.23.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions unless the price rallied to breach 59.93 level and hold above it.
The expected trading range for today is between 56.50 support and 59.90 resistance.
The expected trend for today: Bearish
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