Brent oil price breaks the support – Analysis - 04-08-2022
Economies.com
2022-08-04 04:05AM UTC
Brent oil price broke 102.25 level strongly and reached 100.00$ barrier, reinforcing the expectations of continuing the bearish trend efficiently for the upcoming sessions, reminding you that our next target is located at 99.25, and we expect to surpass this level to head towards 95.90 as a next main station.
Therefore, the bearish trend scenario will remain dominant on the intraday basis unless the price rallied to breach 102.25 – 102.90 levels and hold above them.
The expected trading range for today is between 97.50 support and 102.25 resistance.
The expected trend for today: Bearish
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