Brent oil price continues to fluctuate around 62.92 level and still below it, accompanied by witnessing overbought signals through stochastic, while the EMA50 forms continuous negative pressure against the price.
Therefore, these factors support the chances of resuming the bearish trend on the intraday and short term basis, as our next target is located at 59.93, noting that it is important to keep the daily closings below 62.92 to continue the expected decline.
The expected trading range for today is between 61.00 support and 64.00 resistance.
The expected trend for today: Bearish
Origin: Economies
