Brent oil price succeeded to achieve our initial waited target at 54.45 and settles near the EMA50, and the price remains below the broken support for the main bullish channel, keeping our bearish trend expectation that targets 52.30 level as a next main station.
In general, we keep preferring the bearish trend in the upcoming period, conditioned by the stability of the price below 56.65 level.
The expected trading range for today is between 54.00 support and 56.50 resistance.
The expected trend for today: Bearish
Origin: Economies
