Midday update for Brent oil 08-04-2020
Economies.com
2020-04-08 09:40AM UTC
Brent oil price faces negative pressure now to break 32.50 level and settles below it, which makes us prefer staying aside until the price confirms its situation according to this level, as confirming the break by getting a daily close below it will press on the price to make more bearish correction and visit 30.97 level as a next station, while stepping above 32.50 will reactivate the bullish trend scenario that its first target located at 34.95.
The expected trading range for today is between 31.00 support and 35.00 resistance.
The expected trend for today: Neutral
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