Brent oil price managed to confirm breaking 40.00 level and hold below it, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, supported by the negative pressure that the EMA50 continues to provide, waiting to achieve our negative targets that start at 38.80 followed by 37.12.
Therefore, the bearish trend scenario will remain valid for the upcoming period conditionedby the price stability below 40.55 and the most important below 41.36.
The expected trading range for today is between 38.50 support and 41.00 resistance.
The expected trend for today: Bearish
Origin: Economies
