Midday update for Brent oil 19-03-2020
Economies.com
2020-03-19 11:02AM UTC
Brent oil price attempted to breach 28.44 level but it bounced downwards quickly to settle below 28.00$ barrier, noticing that the price moves within negative pattern that we are waiting to assist to push the price to resume the expected bearish trend for the upcoming period, and the price needs to break 27.09 level to ease the mission of achieving our negative targets that start at 25.00 and extend to 23.05.
In general, the bearish trend scenario will remain active for today unless we witnessed clear breach and holding above 28.44.
The expected trading range for today is between 24.50 support and 28.44 resistance.
The expected trend for today: Bearish
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