Brent oil price resumed its negative trading clearly to reach the thresholds of 50.00$ barrier, waiting for more decline supported by moving inside the bearish channel that appears on the chart, reminding you that our next main target is located at 48.00, taking into consideration that there’s key support line at 49.87, the price needs to surpass it to confirm opening the way to achieve the mentioned target.
In general, the decline will remain expected for the upcoming period unless breaching 53.23 level and holding above it.
The expected trading range for today is between 48.50 support and 51.50 resistance.
The expected trend for today: Bearish
Origin: Economies
