Brent oil price suffered strong losses in the previous sessions to succeed reaching our second waited target at 49.87, showing some slight bullish bias affected by stochastic positivity, but the main negative pressure still valid, waiting to break the mentioned level to open the way to extend the bearish wave towards 47.70 as a next station.
Note that breaching 53.00 will stop the expected decline and lead the price to start recovery attempts on the intraday basis.
Expected trading range for today is between 48.00 support and 52.00 resistance.
Expected trend for today: Bearish
Origin: Economies
