Brent oil price tested 43.38 level yesterday, and bounced downwards clearly from there, to resume the recently suggested bearish trend scenario, on its way to achieve our waited targets that start at 40.00 and extend to 37.86 after surpassing the previous level.
Moving below the EMA50 supports the suggested decline, and breaking 41.30 will form negative motive that supports the chances of accelerating the expected bearish wave, which will remain valid and active unless breaching 43.38 level and holding with a daily close above it.
The expected trading range for today is between 40.00 support and 43.00 resistance.
The expected trend for today: Bearish
Origin: Economies
