Brent oil price broke the bullish channel’s support line clearly and settled below it, to head towards a potential test to the key support levels between 63.95 and 63.10 before turning back to resume the main bullish track again.
Therefore, we suggest witnessing more bearish bias in the upcoming sessions unless the price managed to breach 66.00 level and hold with a daily close above it.
The expected trading range for today is between 63.95 support and 66.50 resistance.
The expected trend for today: Bearish temporarily
Origin: Economies
