Brent oil price found difficulty to hold above 65.40 level, to end yesterday’s trading below this level, which pushes the price to provide negative trades now, targeting testing 64.00 level initially.
Therefore, we suggested witnessing more decline for today, noting that breaking the mentioned level will push the price towards 61.71 as a next main station, while breaching 65.40 represents the key of getting rid of the current negative pressure and resume the main bullish trend again.
Expected trading range for today is between 63.30 support and 66.00 resistance.
Expected trend for today: Bearish
Origin: Economies
