Brent oil price resumed its negative trades by today’s open to surpass our first waited target at 18.10 and heads towards achieving more expected decline on the intraday and short term basis, and the way open to achieve our next waited target at 15.40, noting that the price moves inside bearish channel that its support line located at 8.75, to form the next main target of the upcoming period.
Therefore, the bearish trend will remain suggested for today, supported by the negative pressure formed by the EMA50, noting that the expected decline depends on the price stability below 19.60.
The expected trading range for today is between 12.00 support and 19.60 resistance.
The expected trend for today: Bearish
Origin: Economies
