Brent oil price broke 41.20 level and settled below it, starting to press on the intraday support line that appears on the chart, to hint heading to achieve more expected decline in the upcoming sessions, targeting visiting 37.86 level as a next main station.
Therefore, we suggest witnessing negative trades today, supported by the EMA50 that presses negatively on the price, taking into consideration that breaching 41.76 will stop the current decline and leads the price to resume the main bullish trend again.
The expected trading range for today is between 38.50 support and 41.76 resistance.
The expected trend for today: Bearish
Origin: Economies
