Brent oil price breaks the support – Analysis - 06-06-2023
Economies.com
2023-06-06 04:15AM UTC
Brent oil price ended yesterday with clear negativity, to break 76.80 level and close the daily candlestick below it, which puts the price under expected negative pressure in the upcoming sessions, targeting visiting 75.70 followed by 74.30 levels as next main stations.
Therefore, we expect to witness more decline on the intraday basis, and holding below 76.80 represents major condition to continue the bearish bias, as breaching it will lead the price to recover again and head to test 78.90 areas again.
The expected trading range for today is between 74.80 support and 77.80 resistance.
The expected trend for today: Bearish
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