Brent oil price hovers around the resistance – Analysis - 12-04-2021
Economies.com
2021-04-12 03:43AM UTC
Brent oil price fluctuates around 62.95 level, and the EMA50 forms continuous negative pressure against the price, which support the continuation of the expected bearish trend on the intraday and short term basis, waiting to visit 60.30 level mainly.
Note that breaking 62.25 will ease the mission of achieving the suggested target, while breaching 63.40 represents positive factor that will lead the price to start recovery attempts and turn to rise.
The expected trading range for today is between 61.50 support and 64.00 resistance.
The expected trend for today: Bearish
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