Brent oil price succeeded to touch our first waited target at 59.93 and bounced upwards clearly from there, on its way for a potential test to the key resistance 62.92, noticing that stochastic shows overbought signals now, to support the chances of resuming the bearish bias again.
Therefore, we will keep our bearish overview unless breaching the mentione resistance and holding above it, noting that breaking 59.93 will lead the price to visit 56.23 level as a next main target.
The expected trading range for today is between 60.00 support and 63.00 resistance.
The expected trend for today: Bearish
Origin: Economies
