Midday update for Brent oil 09-08-2022

Economies.com
2022-08-09 09:10AM UTC

Brent oil price returns to attack the bearish flag’s support line to support the expectations of continuing the bearish trend on the intraday and short term basis, motivated by stochastic that appears clearly now, waiting to head towards 95.90 followed by 90.45 levels that represent our next main targets, reminding you that the continuation of the bearish wave requires holding below 100.70.

 

The expected trading range for today is between 96.00 support and 101.00 resistance.

 

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The expected trend for today: Bearish

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