Midday update for Brent oil 21-09-2023
Economies.com
2023-09-21 09:20AM UTC
Brent oil price shows additional negative trades to break 92.74 level and settles below it now, which supports the continuation of the correctional bearish trend domination on the intraday and short-term basis, opening the way to head towards 90.70 as a next main target.
Therefore, we will continue to suggest the bearish trend for today supported by the negative pressure formed by the EMA50, noting that holding below 92.74 represents the first condition to continue the expected decline.
The expected trading range for today is between 91.00 support and 94.00 resistance.
The expected trend for today: Bearish
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