Brent oil price succeeded to achieve our first waited target at 59.93 yesterday, and it closed the daily candlestick below this level, which supports the continuation of our bearish overview on the intraday and short term basis, paving the way to head towards 58.00 followed by 56.23 levels as next negative stations.
Therefore, we will continue to suggest the bearish trend in the upcoming period, noting that breaching 60.60 followed by 61.50 levels will stop the expected decline and lead the price to visit 62.92 again before any new negative attempt.
The expected trading range for today is between 58.50 support and 61.50 resistance.
The expected trend for today: Bearish
Origin: Economies
