Brent oil price resumed its negative trading clearly yesterday to approach our first waited target at 58.00, waiting for more decline that its next main target located at 56.23, as the price falls under continuous negative pressure coming by the EMA50.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, noting that breaching 59.93 will stop the expected decline and push the price to start new recovery attempts.
The expected trading range for today is between 57.00 support and 60.00 resistance.
The expected trend for today: Bearish
Origin: Economies
