Brent oil price hits the first target – Analysis - 01-12-2022
Economies.com
2022-12-01 04:06AM UTC
Brent oil price succeeded to achieve our first waited positive target at 87.25, fluctuating around the EMA50 now, waiting to resume the bullish wave that its next target reaches 88.67.
Stochastic negativity interprets the reasons of the current sideways fluctuation, while the price needs to hold above 85.70 to keep the bullish trend active, as breaking it will stop the bullish correction and press on the price to return to the main bearish trend again.
The expected trading range for today is between 85.50 support and 89.00 resistance.
The expected trend for today: Bullish
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