Brent Crude Faces Downward Pressure
Technically, 50-Daily Moving Average (DMA) crossed the 200 DMA for the downside. Also, the global recession fears on the increase. Thus, the demand for Brent is decreasing. Technically, the brent price below 90.00 gives way to heavy sell up to 87.25 level. On the upside, we follow 91.95 level as the first resistance level. The expected trading range for today is between 87.25 support and 91.95 resistance.
- Support: 90.00 – 87.25 – 85.80
- Resistance: 91.95 – 94.65 – 95.80