Brent oil price tested 56.90 level yesterday and kept its stability below this level, keeping our bearish trend expectations valid in the upcoming period, waiting for resuming the bearish bias that its next main target at 49.87.
The EMA50 keeps supporting the suggested bearish wave, reminding you that breaching 56.90 then 58.40 levels will stop the expected decline and pushes the price to begin recovery attempts that target 63.95 levels mainly.
Expected trading range for today is between 54.00 support and 57.50 resistance.
Expected trend for today: Bearish
Origin: Economies
