Brent oil price settles near 40.23 level after touching it yesterday, and it might show some temporary bullish bias affected by stochastic positivity before attempting to decline again.
Until now, the bearish trend scenario still active for the upcoming period supported by the negative pressure formed by the EMA50, conditioned by the price stability below 41.35, noting that breaking 40.23 will push the price to 38.80 as a next negative target.
The expected trading range for today is between 39.00 support and 42.00 resistance.
The expected trend for today: Bearish
Origin: Economies
