Brent oil price managed to touch our waited target at 56.00 and bounced bullishly from there, to fluctuate around 57.50 level again, noticing that stochastic shows clear overbought signals, waiting to motivate the price to rebound bearishly to resume the bearish trend, reminding you that breaking 56.00 will push the price to visit 54.00 level as a next main target.
Note that the continuation of the suggested bearish wave depends on the price stability below 59.60.
The expected trading range for today is between 55.50 support and 59.00 resistance.
The expected trend for today: Bearish
Origin: Economies
