Brent oil price traded with clear negativity yesterday after testing the key resistance 44.05 and keeping its stability below it, which hints that the price is facing negative pressure that we are waiting to confirm breaking the key support 43.00, which will open the way to head towards 39.96 as a next main station.
Therefore, the bearish trend will be expected on the intraday and short term basis supported by the EMA50, unless we witnessed clear breach and hold above 44.05.
Expected trading range for today is between 41.00 support and 45.00 resistance.
Expected trend for today: Bearish
Origin: Economies
