Brent oil price succeeded to break 49.87 level by today’s opening and settles below it now, to support the continuation of the expected bearish trend scenario for the upcoming period, as the price moves organized inside the bearish channel that appears on the chart, noting that our next target is located at 48.00.
The EMA50 keeps supporting the suggested bearish wave, noting that holding below 49.87 represents initialy condition to continue the expected decline.
The expected trading range for today is between 47.50 support and 50.50 resistance.
The expected trend for today: Bearish
Origin: Economies
