Brent oil price rallied upwards strongly on last Friday to test the key resistance 62.92 and settles around it, as it closed the daily candlestick below this level, to keep the negative scenario valid until now, noting that the price attempts to breach this level now, but we will depend on the negative pressure formed by the EMA50 to suggest resuming the bearish bias in the upcoming sessions.
Therefore, the overall bearish trend scenario will remain valid unless the price confirmed breaching 62.92 by a daily close above it, waiting to head towards 59.93 as a first main station.
The expected trading range for today is between 61.00 support and 64.00 resistance.
The expected trend for today: Bearish
Origin: Economies
