Brent oil price resumed its negative trades after retesting the broken support of the bullish channel that appears on the chart, to keep the bearish trend dominant on the intraday and short term basis, supported by the negative pressure formed by the EMA50, waiting to visit 62.50 as a next negative target.
We should note that breaching 65.40 will stop the suggested negative scenario and leads the price to resume the bullish trend within the mentioned bullish channel.
The expected trading range for today is between 62.50 support and 65.40 resistance.
The expected trend for today: Bearish
Origin: Economies
