Brent oil price resumed its negative trading yesterday after testing 62.92 level, and the EMA50 managed to protect this resistance, to keep the bearish trend valid on the intraday and short term basis, waiting to head towards 59.93 level that represents the next main station.
Stochastic current positivity might push the price to provide some temporary bullish bias before resuming the expected decline, which will remain valid unless breaching 62.92 level and holding above it.
The expected trading range for today is between 60.00 support and 63.00 resistance.
The expected trend for today: Bearish
Origin: Economies
