Brent oil price tested the bearish channel’s resistance and rebounds bearishly from there, which keeps our bearish overview valid until now, getting negative signals through Stochastic and the EMA50, waiting for more decline in the upcoming sessions.
Our next main target is located at 49.87, noting that the continuation of the negative scenario conditions holding below 55.40 and the most important 56.91 levels.
Expected trading range for today is between 51.00 support and 55.40 resistance.
Expected trend for today: Overall Bearish
Origin: Economies
