UK OIL
New forecast
The price of Brent crude futures faced strong negative pressure to break the level of 86.68 and closed the daily candle below it, heading towards achieving an expected decline during the coming sessions, targeting targets at 84.50, and by breaking it, it will reach 83.80 as a main negative station.
Therefore, a bearish bias will be expected for today, supported by the negative pressure formed by the 50 moving average, noting that breaching 87.10 and holding above it will stop the current negative pressure and push the price to recover again.
The expected trading range for today is between support 84.50 and resistance 87.10.
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 84.50 , 83.80
resistance line : 87.10 , 88.38
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