Expectations of Further Declines in Brent Oil Prices

Central Banks’ guidance, global economic growth expectations decrease. Thus, brent oil prices are expected to fall more.

Technically, 50-Daily Moving Average (DMA) is crossed the 200DMA. Below 97.00 level, Brent remains under selling pressure. The expected trading range for today is between 82.90 support and 87.40 resistance.

Support: 83.65 – 82.90 – 79.30

Resistance: 87.40 – 89.70 – 92.80