Brent oil price continues to decline to approach from the critical support level at 50.96, waiting for breaking this level to open the way towards extending the bearish wave to 61.8% Fibonacci correction level at 49.21.
In general, we keep preferring the bearish trend if the price settled below 52.71 level, where breaching this level will open the way towards regaining the main bullish track, and the positive targets begin at 54.87 and extend to 58.36.
Expected trading range for today is between 50.00 support and 52.71 resistance.
Expected trend for today: Bearish
Origin: Economies
