Brent oil price faced strong negative pressure yesterday to break the intraday bullish channel’s support line and settles below it, which leads the price to turn to decline on the intraday basis, targeting testing 41.15 level initially, noting that breaking this level will push the price to 37.86 as a next main station.
Therefore, the bearish trend will be expected in the upcoming sessions unless the price managed to breach 43.38 level and hold above it again.
The expected trading range for today is between 40.00 support and 43.50 resistance.
The expected trend for today: Bearish
Origin: Economies
