Brent oil price breaks the support – Analysis - 15-08-2019

Brent oil price broke 59.93 level strongly and settled below it, to reactivate the bearish trend scenario again, on its way to achieve more decline that targets visiting 56.23 level as a next main station.

Therefore, the bearish trend will remain suggested for the upcoming sessions unless breaching 59.93 level and holding above it, noting that the EMA50 forms negative pressure that supports the expectations to decline.

The expected trading range for today is between 57.00 support and 60.00 resistance.

The expected trend for today: Bearish