Brent oil price rallied upwards strongly yesterday to reach 55.55 areas, as the price is affected by stochastic positivity, but it’s still below the most important resistance to the short term trades at 56.90, which keeps the overall bearish trend scenario suggested for the upcoming period, which targets testing 49.87 level again.
We should note that breaching 56.90 will stop the negative scenario and lead the price to achieve more rises that target 63.955 areas next.
Expected trading range for today is between 52.00 support and 56.00 resistance.
Expected trend for today: Overall Bearish
Origin: Economies
