Oil price confirmed breaking the 84.58 level after ending yesterday’s trading below it, to support the continuation of the bearish corrective trend, whose next target is at 82.00.
The moving average 50 continues to support the proposed bearish wave, and breaking the target level will put pressure on the price to incur additional losses up to 78.21, taking into account that breaching 84.58 will stop the current negative pressure and lead the price to begin recovery attempts in the intraday term.
The general trend expected for today: bearish
Timeframe: 4H
The moving average 50 continues to support the proposed bearish wave, and breaking the target level will put pressure on the price to incur additional losses up to 78.21, taking into account that breaching 84.58 will stop the current negative pressure and lead the price to begin recovery attempts in the intraday term.
The general trend expected for today: bearish
Timeframe: 4H
