Brent oil price broke 62.92 support line strongly and decline sharply to touch 61.8% Fibonacci correction level at 59.93, noticing that the price shows bullish bias now to approach retesting the broken support, noting that we suggest the continuation of the bearish trend domination unless the price managed to breach 62.92 level and hold above it again.
Therefore, we are waiting for negative trading in the upcoming sessions, noting that breaking 59.93 will push the price to visit 58.00 followed by 56.23 as next main stations.
The expected trading range for today is between 60.00 support and 63.00 resistance.
The expected trend for today: Bearish
Origin: Economies
