Brent oil price begins today’s trading negatively to move away from 57.36 level, reinforcing the expectations of continuing the bearish trend in the upcoming period, supported by stochastic negativity, waiting to visit 54.65 followed by 53.20 levels that represent our next main targets.
Note that breaking 56.30 will ease the mission of achieving the suggested targets, while the expected decline will remain valid unless breaching 57.36 level and holding with a daily close above it.
The expected trading range for today is between 55.00 support and 58.00 resistance.
The expected trend for today: Bearish
Origin: Economies
