Midday update for Brent oil 11-12-2018

Economies.com
2018-12-11 10:28AM UTC

Brent oil price crawls downwards calmly on its way to test 58.40 that represents the sideways range’s support that appears on the chart, and as we mentioned this morning, the sideways track still dominant on the intraday basis until the price confirms breaking the mentioned support or breaching 63.95 resistance.

 

To review the details of the expected targets after the breach, please check our previous report.

 

Expected trading range for today is between 58.00 support and 61.50 resistance.

 

Expected trend for today: Sideways

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