Brent oil price tests the channel’s support – Analysis - 07-08-2020
Economies.com
2020-08-07 04:14AM UTC
Brent oil price fluctuates with calm negativity to reach the intraday bullish channel’s support line, waiting to resume the main bullish trend that gets positive support by the EMA50, besides stochastic more near the oversold areas.
Therefore, our bullish overview will remain valid and active for the upcoming period conditioned by the price stability above 44.40, reminding you that our next main target reaches 47.60.
The expected trading range for today is between 44.00 support and 47.00 resistance.
The expected trend for today: Bullish
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