Brent oil price returns to trade negatively and tests the minor bullish channel’s support line that appears on the chart, which we believe that it forms bearish flag pattern, as the price needs to break 67.00 level to get strong negative motive that supports the expectations to continue the bearish trend on the intraday and short term basis.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions conditioned by the price stability below 68.35, noting that our next main target is located at 63.95.
Expected trading range for today is between 65.00 support and 68.35 resistance.
Expected trend for today: Bearish
Origin: Economies
