Brent oil price trading settles below 52.71 level, which keeps the negative pressure valid until now, supported by the EMA50, waiting for testing 50.96 level initially, and breaking it represents the confirmation key for the bearish wave to reach 49.21.
Therefore, we will keep our bearish trend expectations in the upcoming sessions conditioned by holding below 52.71, pointing that breaching this level will lead the price to recover and target levels that begin at 54.87 and extend to 58.36 on the near term basis.
Expected trading range for today is between 50.00 support and 53.00 resistance.
Expected trend for today: Bearish
Origin: Economies
