Brent oil price continues to fluctuate around the EMA50, noticing that stochastic provides negative overlapping signal now, which supports the expectations of continuing the bearish bias on the intraday basis, which tragets testing 63.95 followed by 63.10 levels before attempting to return to the main bullish track again.
Note that breaching 66.65 will stop the suggested negative scenario and push the price to return to the bullish channel.
The expected trading range for today is between 63.95 support and 66.50 resistance.
The expected trend for today: Bearish temporarily
Origin: Economies
