Brent oil price tests the moving average – Analysis - 19-08-2019
Economies.com
2019-08-19 05:16AM UTC
Brent oil price provides positive trading by today’s opening to test the EMA50, which forms intraday resistance against the price, and the price still below the previously broken minor bullish channel’s support line, waiting to resume the bearish trend that targets testing 56.23 level initially.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 59.93 level and hold above it.
The expected trading range for today is between 57.00 support and 59.95 resistance.
The expected trend for today: Bearish
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