Brent oil price trades with clear positivity after approaching our waited target at 56.00, to move above 58.00 barrier now, noticing that stochastic lost its positive momentum to show overbought signals now, which supports the chances of bouncing bearishly to resume the expected bearish trend for the upcoming period, which targets testing 56.00 level mainly.
Therefore, we will keep our bearish overview that moves organized inside the bearish channel that appears on the chart unless breaching 59.60 level and holding 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
