Midday update for Brent oil 04-12-2023

Economies.com
2023-12-04 10:12AM UTC

Brent oil price shows more bearish bias to approach the second waited target at 77.44, reminding you that the continuation of the decline and breaking this level will push the price to achieve more negative targets, which extend to 76.00 as a next negative station.

 

Therefore, the bearish trend scenario will remain valid unless the price rallied to breach 81.00 and hold above it.

 

The expected trading range for today is between 76.80 support and 79.80 resistance.

 

The expected trend for today: Bearish

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