Brent oil price continued its negative trading yesterday to break 46.35 level and settle with a daily close below it, which opens the way to extend the correctional bearish wave on the short term basis, and the way is open to visit 61.8% Fibonacci level at 45.21 as a next main station, being aware that it is important to monitor the price behavior when reaching this level, which breaking it represents the extend the extend the bearish wave to reach 43.79 direct.
In general, the negative pressure will remain dominant on the upcoming trading unless breaching 46.76 followed by 47.49 levels and holding above them.
Expected trading range for today is between 43.79 support and 47.50 resistance.
Expected trend for today: Bearish
Origin: Economies
