Brent oil price suffered strong losses yesterday to approach 37.00$ barrier, and it rebounds bullishly to fluctuate around 38.50 level now, while the main negative scenario still valid for the upcoming period, supported by the negative pressure formed by the EMA50, waiting to visit 36.36 level as a next main target.
On the other hand, we need to take into consideration that breaching 39.25 followed by 40.23 levels will stop the expected decline and leads the price to regain the main bullish trend again.
The expected trading range for today is between 37.00 support and 39.50 resistance.
The expected trend for today: Bearish
Origin: Economies
