Brent oil price shows clear negative trades by today’s open to break 40.23 level and settles below it, which opens the way to turn to decline on the intraday basis, to head towards testing 39.30 followed by 37.90 levels as next negative stations.
Therefore, the bearish bias will be suggested for today, noting that breaching 40.23 and holding above it will stop the negative scenario and lead the price to rise again.
The expected trading range for today is between 37.90 support and 41.50 resistance.
The expected trend for today: Bearish
Origin: Economies
