Brent oil price bounced bearishly after approaching 62.00$ barrier, as it found difficulty to return to the intraday bullish channel, to head towards potential visit to the main bullish channel’s support line, located now at 59.85.
Therefore, we expect witnessing more decline in the upcoming sessions, noting that we are waiting to resume the main bullish trend after touching the mentioned support, while breaching 61.55 represents the key to regain the main bullish trend and head to achieve gains that start at 62.07 and extend to 63.55.
The expected trading range for today is between 60.00 support and 62.00 resistance.
The expected trend for today: Bullish
Origin: Economies
