Midday update for Brent oil 09-06-2023
Economies.com
2023-06-09 09:22AM UTC
Brent oil price trades positively to approach testing the key resistance 76.80, affected by stochastic positivity, and as we mentioned this morning, the price needs to hold below this level to keep bearish trend active for the upcoming period, as breaching it will lead the price to achieve additional gains that reach 77.85 and extend to 78.90.
The price needs to trade below 75.65 to reinforce the chances of resuming the bearish wave that its targets by testing 74.30.
The expected trading range for today is between 73.80 support and 77.10 resistance.
The expected trend for today: Bearish
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