Brent oil price under the negative pressure – Analysis - 01-04-2021
Economies.com
2021-04-01 04:26AM UTC
Brent oil price traded with strong negativity yesterday to break 63.95 and start pressing on the most important support at 62.95, which hints the price head to decline again, as it completed forming rising wedge pattern that supports the chances of surpassing the current support and head towards 61.50 followed by 60.30 levels as next main targets.
Therefore, the bearish bias will be suggested for today, noting that failing to breaking 62.95 will stop the expected decline and push the price to attempt to rise again.
The expected trading range for today is between 61.50 support and 64.10 resistance.
The expected trend for today: Bearish
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