Brent oil price begins today with additional decline to break the main bullish channel’s support line and settles below it, which opens the way to start intraday bearish correction, supported by the formation of the double top pattern that its signs appear on the chart, waiting to head towards 46.44 as a next correctional station.
Therefore, we expect witnessing more decline in the upcoming sessions, noting that breaching 48.80 will stop the negative scenario and leads the price to regain the main bullish trend again.
The expected trading range for today is between 46.44 support and 49.50 resistance.
The expected trend for today: Bearish
Origin: Economies
