Brent oil price bounced bearishly after testing 41.00 barrier yesterday, to complete forming bearish flag pattern that appears on the minor image, which puts the price under negative pressure that we expect to push the price to resume the main bearish trend again, as it attempts to break the key support 40.00.
Therefore, we suggest witnessing more decline in the upcoming sessions, noting that the expected targets begin at 38.80 and extend to 37.12, while the continuation of the bearish wave depends on the price stability below 40.75 and the most important below 41.36.
The expected trading range for today is between 38.50 support and 41.36 resistance.
The expected trend for today: Bearish
Origin: Economies
