Brent oil price broke 46.76 level and settled below it, thus, the negative pressure will be suggested in the upcoming sessions, to target visiting 38.2% Fibonacci level that forms key support at 43.00, noting that negative pressure provided by the EMA50 supports achieving more decline.
Note that the correctional bearish pressure will remain valid and active unless the price managed to breach 46.76 followed by 47.70 levels and hold above them.
Expected trading range for today is between 44.00 support and 48.00 resistance.
Expected trend for today: Bearish
Origin: Economies
