Brent oil price did not show any strong move since yesterday, to keep trading stable below 46.76 level, keeping the negative pressure valid until now, supported by stochastic losing its bullish momentum on the four hours’ time frame, waiting to resume the correctional bearish trend that its next target located at 43.00.
In general, the correctional bearish scenario will remain active in the upcoming period unless breaching 46.76 followed by 48.65 levels and holding above them.
Expected trading range for today is between 44.00 support and 48.00 resistance.
Expected trend for today: Bearish
Origin: Economies
