Midday update for Brent oil 07-12-2018
Economies.com
2018-12-07 10:39AM UTC
Brent oil price shows sideways trading since morning and keeps its stability below 61.80, noticing that stochastic loses its positive momentum gradually, while the EMA50 forms negative pressure against the price.
Thus, these factors encourage us to continue suggesting the bearish trend that its targets begin at 57.77 and extend to 56.91 after breaking the previous level.
Expected trading range for today is between 57.50 support and 61.00 resistance.
Expected trend for today: Bearish
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