Brent oil price approached 59.00 barrier and bounced bearishly to settle around 58.20 now, noticing that stochastic shows clear negative signals now, while the EMA50 keeps pressing negatively on the price.
Therefore, we expect the continuation of the overall bearish trend domination on the upcoming trading unless the price rallied to breach 59.93 level and hold above it, noting that our first main target is located at 56.23.
The expected trading range for today is between 56.23 support and 59.50 resistance.
The expected trend for today: Overall Bearish
Origin: Economies
