Brent oil price keeps fluctuating around 36.00 level, moving inside intraday bullish channel that appears on the chart, waiting to break its support line at 35.55 to confirm resuming the bearish bias that targets testing the main bullish channel’s support line around 33.80 before turning back to rise again.
Therefore, we will keep the negative scenario for the upcoming period, noting that breaching 36.00 and holding above it will stop the suggested decline and push the price to continue the main bullish trend and open the way to achieve new gains that start at 37.00 and extend further towards 40.50 areas.
The expected trading range for today is between 34.00 support and 37.50 resistance.
The expected trend for today: Bearish
Origin: Economies
