Brent oil price shows some bullish bias to test 56.00$ barrier now, accompanied by stochastic loss to the positive momentum and reaching the thresholds of the overbought areas, waiting to rebound bearishly to resume the expected bearish trend on the intraday and short term basis, which targets the recently recorded low at 53.23 as a first main station.
The EMA50 supports the expected decline, which its continuation conditions holding below 57.36.
The expected trading range for today is between 54.00 support and 57.00 resistance.
The expected trend for today: Bearish
Origin: Economies
