Brent oil price provided negative trading yesterday to test 60.00 barrier, but it returns to fluctuate near 61.00, where stochastic loses its positive momentum clearly to approach from the overbought levels, while the EMA50 keeps forming a negative pressure against the price.
Therefore, we believe that the chances are available for trading negatively in the upcoming sessions, reminding you that our initial target is located at 59.60, while achieveing it conditioned by holding below 62.50 level.
The expected trading range for today is between 59.00 support and 62.00 resistance.
The expected trend for today: Bearish
Origin: Economies
