Brent oil price tests the channel’s resistance – Analysis - 09-04-2021
Economies.com
2021-04-09 03:46AM UTC
Brent oil price tested the bearish channel’s resistance and keeps its stability below it, noticing that stochastic and the EMA50 continue to provide the negative signals, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which its main targets begin at 60.30.
We should note that breaching 63.55 will stop the expected decline and lead the price to start recovery attempts and regain the main bullish trend again.
The expected trading range for today is between 61.50 support and 64.50 resistance.
The expected trend for today: Bearish
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