Brent oil price still stable below 50.96, which keeps the negative pressure valid until now, waiting to resume the bearish bias that targets testing 49.21 level mainly, noting that the EMA50 provides continuous negative pressure against the intraday trading.
Therefore, the bearish trend will remain suggested in the upcoming sessions unless breaching 50.96 level and holding above it, as this breach will push the price to test 52.71 level before any new attempt to resume the bearish trend.
Expected trading range for today is between 49.21 support and 51.50 resistance.
Expected trend for today: Bearish
Origin: Economies
