Brent oil price tested 62.50 and bounced bearishly again, to keep the bearish trend valid and active in the upcoming period, supported by the negative overlapping signal provided by stochastic, waiting to surpass the EMA50 that forms intraday support barrier now at 61.30 to ease the mission of heading towards our main expected target at 59.60.
We remind you that the continuation of the expected bearish trend depends on the stability of the daily close below 62.50.
The expected trading range for today is between 59.60 support and 62.50 resistance.
The expected trend for today: Bearish
Origin: Economies
