Brent oil price shows some bullish bias to approach testing the key resistance 72.00, accompanied by stochastic loss to the positive momentum and reach the overbought areas, while the EMA50 keeps pressing negatively on the price.
Therefore, these factors support the chances of bouncing bearishly to resume the expected bearish trend for the upcoming period, which its next targets located at 70.00 and extend to 67.50, while achieving them conditions holding below 72.00.
Expected trading range for today is between 69.00 support and 72.35 resistance.
Expected trend for today: Bearish
Origin: Economies
