Brent oil price settles below 54.00 barrier after the decline that it witnessed yesterday, and the price falls under negative pressure that comes by the EMA50, to keep the oveall bearish trend active for the upcoming period, waiting to head towards 49.87 that represents our next main target.
We should note that breaching 54.90 will push the price to test the most important resistance to the short term trading at 56.91 before any new attempt to decline.
Expected trading range for today is between 51.00 support and 55.00 resistance.
Expected trend for today: Overall Bearish
Origin: Economies
