Brent oil price keeps its stability below 48.52 level after fluctuating around it yesterday, while stochastic begins to head downwards to form negative pressure that we expect to motivate the price to resume the bearish bias, keeping the bearish trend scenario active for today, supported by the EMA50.
Our next main target is represented by testing the previously recorded low at 46.63, which breaking it represents the key to extend Brent oil losses to reach 45.00, while holding below 48.52 is the first protecting factor to continue the suggested bearish trend scenario.
Expected trading range for today is between 46.00 support and 49.69 resistance.
Expected trend for today: Bearish
Origin: Economies
