Brent oil price provided positive trades yesterday to return to the bullish channel that appears on the chart, but the rise stopped below 36.00 barrier, to start declining again and test the mentioned channel’s support line, which hints the price head to resume the bearish bias again, on its way to test 32.95 as a first negative station.
Therefore, we expect the decline today, taking into consinderation that failing to break 34.90 and consolidating above it will lead the price to provide new positive trades and attempt to head towards 36.96 initially.
The expected trading range for today is between 32.50 support and 36.00 resistance.
The expected trend for today: Bearish
Origin: Economies
