Brent oil price broke 45.90 level and closed last week below it, which activates the negative scenario on the intraday basis, opening the way to visit 38.2% Fibonacci level located at 43.00.
The EMA50 pushes negatively on the intraday trading, which encourages us to suggest the bearish trend in the upcoming period, which will remain valid and active unless breaching 46.76 level and holding with a daily close above it.
Expected trading range for today is between 43.00 support and 47.00 resistance.
Expected trend for today: Bearish
Origin: Economies
