Brent oil price traded with strong negativity by today’s open to attack the intraday bullish channel’s support line and heads towards achieving potential bearish correction in the upcoming sessions, supported by stochastic negativity, waiting to visit 48.50 as a first correctional target.
Therefore, the bearish bias will be expected for today, noting that breaking 50.25 will reinforce the expectations to decline and achieve the waited negative targets, while consolidating above it will stop the negative scenario and push the price to resume the main bullish trend again.
The expected trading range for today is between 49.00 support and 52.00 resistance.
The expected trend for today: Bearish
Origin: Economies
