Midday update for Brent oil 18-10-2018
Economies.com
2018-10-18 09:57AM UTC
Brent oil price resumes its negative trading, on its way towards our waited target at 78.49, to keep the bearish trend scenario valid for the rest of the day, supported by the continuous negative pressure provided by the EMA50, noting that breaking the targeted level will push the price towards 76.56 as a next negative station, while breaching 80.43 will push the price to achieve intraday gains that start at 82.83.
Expected trading range for today is between 78.49 support and 81.50 resistance.
Expected trend for today: Bearish
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