Brent oil price provided positive trades yesterday and attempts to return to the bullish channel, but we notice that the EMA50 forms intraday resistance barrier against the price, while stochastic shows overbought signals.
Therefore, these factors encourage us to suggest the bearish bias in the upcoming sessions, which its targets begin by testing 65.00 level, taking into consideration that settling above 67.30 will stop the suggested bearish wave and push the price to achieve gains again.
The expected trading range for today is between 65.50 support and 68.50 resistance.
The expected trend for today: Bearish
Origin: Economies
