Brent oil price retested 50.87 level and kept its stability below it, as the EMA50 met the mentioned level to add more strength to it, while stochastic shows clear negative signals on the four hours’ time frame.
Therefore, these factors encourage us to keep our bearish overview that targets testing 49.12 followed by 48.00 levels mainly, reminding you that breaching 450.87 followed by 51.96 levels will stop the expected decline and lead the price to regain the main bullish trend.
Expected trading range for today is between 48.00 support and 51.96 resistance.
Expected trend for today: Bearish
Origin: Economies
