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Brent oil price suffers sharp losses – Analysis - 22-10-2021
Brent oil price broke 84.35 level strongly and declined to approach the main bullish channel’s support line, and we suggest witnessing new negative trades today, to target 82.05 mainly.
Therefore, the bearish bias will be expected for the upcoming sessions conditioned by the price stability above 84.85, as breaching this level will release the price from the expected negative pressure and push to regain the main bullish trend again.
The expected trading range for today is between 82.50 support and 85.40 resistance.
The expected trend for today: Bearish
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