Brent oil price started to day with strong bearish gap to break 57.36 and settles below it, which hints the price head to resume the main bearish trend and stop the bullish correction that it started recently.
Therefore, we suggest witnessing more decline today, as our next main target is located at 53.23, taking into consideration that breaching 57.36 followed by 58.10 levels will stop the expected negative pressure to return to the correctional bullish trend again.
The expected trading range for today is between 55.00 support and 57.50 resistance.
The expected trend for today: Bearish
Origin: Economies
