Brent oil price tested the key resistance 36.00 and bounced bearishly from there, to head towards testing the intraday bullish channel’s support line that appears on the chart, which represents the bearish flag pattern that we are waiting to assist to push the price to resume the expected bearish trend on the intraday basis, supported by the negative signal provided now by stochastic.
Therefore, we will continue to suggest the bearish trend for the upcoming period, and the main waited target is located at 33.10, reminding you that breaching 36.00 will stop the suggested decline and push the price to resume the main bullish trend again.
The expected trading range for today is between 33.10 support and 37.00 resistance.
The expected trend for today: Bearish
Origin: Economies
