Brent oil price tests the resistance – Analysis - 22-10-2018

Brent oil price tested 80.43 level and kept its stability below it, which keeps the bearish trend valid until now, waiting to test 78.49 level initially, reminding you that breaking this level will push the price towards 76.56 as a next station.

The EMA50 supports the expected decline, which will remain valid unless we witnessed clear breach and hold with a daily close above 80.43.

Expected trading range for today is between 78.00 support and 81.00 resistance.

Expected trend for today: Bearish