Brent oil price shows sideways and tight range trading since morning, settled below 37.29 level, to keep the chances valid for bouncing lower and resuming the main bearish bias, reminding you that our next target at 32.50, which represents the rising wedge’s support level that appears in the chart, reminding you that breaking this level will extend the bearish wave to reach 27.09 directly.
Therefore, our bearish trend expectations will remain valid and active in the upcoming period unless breaching 37.29 level and holding above it.
Expected trading range for today is between 34.00 support and 38.00 resistance.
Expected trend for today: Overall bearish
Origin: economies.com
