UK BRENT Oil 4H : OUTLOOK
UK BRENT
New forecast
The price of Brent crude futures resumed its significantly positive trading, and we expect the bullish tendency to continue but to confirm the bullish trend it should stable above 83.80 level and stabilized above 83.80 will open the way in front of the price to reach 84.76 and 87.10 levels .
Therefore the uptrend scenario will be more likely during coming period especially the price got out of descending channel , also moving average 50 support the price to rise up , taking into account that stabilized under 81.35 will put the price under sell pressure again , so stabilized above 83.80 level and then our positive target will be active .
The expected trading range for today is between support 80.00 and resistance 83.80.
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 80.00 , 78.87
resistance line : 83.05 , 84.76
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price of Brent crude futures resumed its significantly positive trading, and we expect the bullish tendency to continue but to confirm the bullish trend it should stable above 83.80 level and stabilized above 83.80 will open the way in front of the price to reach 84.76 and 87.10 levels .
Therefore the uptrend scenario will be more likely during coming period especially the price got out of descending channel , also moving average 50 support the price to rise up , taking into account that stabilized under 81.35 will put the price under sell pressure again , so stabilized above 83.80 level and then our positive target will be active .
The expected trading range for today is between support 80.00 and resistance 83.80.
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 80.00 , 78.87
resistance line : 83.05 , 84.76
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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