UK BRENT OIL 4H : Support further decline

UK BRENT OIL

New forecast

The price perfectly fulfills my last idea and price reached to our targets +200 pip.

The price of Brent crude futures traded with noticeable negativity in the past sessions, exceeding the 80.00 level and settling below it. Today begins with an additional decline to move away from this level and enhance expectations that the bearish trend will continue to dominate, remembering that our next target is at 78.29 and extends to 77.53 and 76.57. but to confirm the bearish trend should stable under 78.29 and then our targets will be activate .

The 50 moving average is putting negative pressure on the price to support the continuation of the suggested decline, which will remain in place provided it remains below the 80.00 level.

The expected trading range for today is between support 76.57 and resistance 80.00.

Be careful because of the war between Palestine and Israel, we may witness unexpected movements .

support line : 78.87 , 77.53
resistance line : 80.00 , 82.11

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