Brent oil price suffers sharp losses – Analysis - 20-07-2021
Economies.com
2021-07-20 03:15AM UTC
Brent oil price declined sharply to surpass the extended negative target at 69.60 and approaches 67.70 level, which represents key support to the short term and medium term trend, as breaking it will lead the price to achieve more decline and head towards 64.55 areas as a next main target.
Holding below 69.60 supports the continuation of the negative trades domination for the upcoming period, to suggest the bearish trend for today unless breaching this level and holding above it.
The expected trading range for today is between 67.00 support and 70.00 resistance.
The expected trend for today: Bearish
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