Brent oil price shows calm negative trades to test 40.00$ barrier by today’s open, to keep the bearish trend scenario valid and active for the upcoming period, depending on the price stability below the broken support of the bullish channel that appears on the chart, which turns into key resistance now at 42.35, noting that our waited targets begin at 38.90 followed by 37.86.
The price might witness some sideways fluctuation until managing to get negative motive that assists to push the price to achieve the suggested targets.
The expected trading range for today is between 38.00 support and 41.50 resistance.
The expected trend for today: Bearish
Origin: Economies
