Brent oil price begins today’s trading with calm decline to crawl towards 56.23 level, and the price gets continuous negative support by the EMA50, while stochastic shows overbought signals.
Therefore, the bearish trend scenario will remain valid and active in the upcoming sessions conditioned by the price stability below 58.00, reminding you that surpassing 56.23 will push the price to 54.00 as a next main target.
The expected trading range for today is between 55.00 support and 58.00 resistance.
The expected trend for today: Bearish
Origin: Economies
