Brent oil price traded with clear negativity yesterday to approach our first waited target at 43.00, starting today with new decline on its way to visit the mentioned level, supported by stochastic negativity that apears on the four hours’ chart, noting that surpassing the mentioned level will extend the bearish wave to reach 40.80 as a next station.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 45.35 and hold above it.
The expected trading range for today is between 42.30 support and 45.00 resistance.
The expected trend for today: Bearish
Origin: Economies
