Brent oil price broke the intraday bullish channel’s support line and settled below it, accompanied by witnessing negative signals through stochastic now, which presses on the price to achieve expected decline in the upcoming sessions, to head towards testing the main bullish channel’s support line around 38.95 mainly.
Therefore, we suggest witnessing negative trades today, taking into consideration that breaching 41.80 will stop the negative scenario and leads the price to resume the main bullish track.
The expected trading range for today is between 38.95 support and 42.40 resistance.
The expected trend for today: Bearish temporarily
Origin: Economies
