Brent oil price suffered strong losses in last Friday, where it broke 62.50 level strongly and rallied to approach from 60.00 level, which puts the price under an expected negative pressure in the upcoming period, in its way to visit 59.60 level as a next negative target.
Therefore, we expect witnessing more of the downside moves in the upcoming sessions unless the price rallied to breach 62.50 level and holding with a daily close above it.
The expected trading range for today is between 59.00 support and 62.50 resistance.
The expected trend for today: Bearish
Origin: Economies
