Brent oil price tested 65.40 level and kept its stability below it, noticing that the EMA50 forms negative pressure against the intraday trading, while stochastic begins to overlap negatively on the four hours’ time frame.
Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming period, reminding you that our main target is represented by testing 64.00 level, noting that breaking this level will push the price towards 61.71 as a next main station, while holding below 65.40 represents key condition to continue the expected decline.
Expected trading range for today is between 63.30 support and 66.00 resistance.
Expected trend for today: Bearish
Origin: Economies
