Brent oil price tested the critical resistance level at 59.60 and kept its stability below it, noticing that stochastic begins to provide negative overlapping signals now, waiting for motivating the price to resume the expected bearish trend in the upcoming period, targeting visiting 56.00 level mainly.
In general, we keep preferring the bearish trend unless braeching 59.60 level and holding above it, where this braech will lead the price to begin new recovery attempts that its main targets begin at 62.50.
The expected trading range for today is between 57.00 support and 60.00 resistance.
The expected trend for today: Bearish
Origin: Economies
