Technical Analysis: Brent bullish run interrupted on July 19

July 19th, Economies analysts’ latest views today: Brent crude oil prices rose strongly yesterday, breaking through 78.90 and approaching the 80.00 mark. It is worth noting that the bullish market stopped at the bullish channel shown on the chart Downside, the bearish signal clearly provided by the stochastics opened lower today.

Therefore, we expect the decline to continue in the future, the target starts at 78.90 and extends to 77.70 after breaking the previous level. It is worth noting that if the price breaks through 80.15, it will stop the expected decline and push the price back to the bullish channel. A test of 80.96 starts a fresh increase.

Today’s trading range is expected between 77.70 support and 80.50 resistance.