UK BRENT OIL
New forecast
The price of Brent crude futures traded significantly positively yesterday, breaching the 82.10 level and settling above it, but we note that the price may face resistance at 83.17 - 83.80, which hinders the upward wave,
Therefore, right now we will see the bullish trend until reach 83.17 and 83.80 levels and here we have to wait until stabilized above it or rebounded from it and stabilized under 82.10 ,so stabilized above 83.80 level will support the price to be continue at the bullish trend and failure to stabilized above it will force the price to drop again and visit to broken previous areas and our negative targets will began at stabilized under 82.10 level .
The expected trading range for today is between support 82.10 and resistance 83.80 until stabilized .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 82.10 , 80.00
resistance line : 83.17 , 83.80
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New forecast
The price of Brent crude futures traded significantly positively yesterday, breaching the 82.10 level and settling above it, but we note that the price may face resistance at 83.17 - 83.80, which hinders the upward wave,
Therefore, right now we will see the bullish trend until reach 83.17 and 83.80 levels and here we have to wait until stabilized above it or rebounded from it and stabilized under 82.10 ,so stabilized above 83.80 level will support the price to be continue at the bullish trend and failure to stabilized above it will force the price to drop again and visit to broken previous areas and our negative targets will began at stabilized under 82.10 level .
The expected trading range for today is between support 82.10 and resistance 83.80 until stabilized .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 82.10 , 80.00
resistance line : 83.17 , 83.80
Attention : we don't have any group in telegram be careful about scammers.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Update
As we mentioned before the price will try to reach the resistance at 83.80 level and already reached , so now we have to wait until stabilized above it or rebounded from here , so if can stabilized above it then the direction will be uptrend on the other hand if price failure to stabilized above it then will force the price to drop again .