Brent oil price bounced downwards clearly after testing 59.60 level yesterday, to resume its expected bearish track on the intraday and short term basis, on its way to visit 56.00 level that represents our next main target.
The EMA50 keeps supporting the suggested bearish wave, which will remain valid unless the price rallied to breach 59.60 level and hold above it.
The expected trading range for today is between 56.50 support and 59.60 resistance.
The expected trend for today: Bearish
Origin: Economies
