Brent oil price resumed its negative trading after approaching from retesting 52.71 level yesterday, which supports the continuation of the expected bearish trend on the intraday and short term basis, which its next target located at 50.96, reminding you that breaking this level will extend the bearish wave to reach 49.21 direct.
Therefore, the bearish trend will remain suggested, supported by the negative pressure formed by the EMA50, noting that breaching 52.71 will stop the suggested decline and lead the price for recovery attempts that target 54.87 initially.
Expected trading range for today is between 49.21 support and 53.00 resistance.
Expected trend for today: Bearish
Origin: Economies
