Brent oil price loses momentum – Analysis - 07-06-2023
Economies.com
2023-06-07 04:03AM UTC
Brent oil price rallied upwards strongly yesterday to test the key resistance 76.80, which consolidated against the bullish rally, accompanied by stochastic loss to the positive momentum clearly, to support the chances of resuming the expected bearish trend on the intraday basis, which targets 74.30 level mainly.
Breaking 75.75 will ease the mission of achieving the expected decline, while breaching 76.80 will stop the bearish wave and push the price to recover again.
The expected trading range for today is between 74.00 support and 77.20 resistance.
The expected trend for today: Bearish
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