Brent oil price broke the bullish channel’s support line strongly and settled below it, starting today with additional decline to conifrm the beginning of bearish correction for the rise measured from 35.71 to 66.79, on its way to head towards 59.46 that represents the first correctional level.
Therefore, the bearish bias will be expected for today unless the price rallied to breach 64.30 and hold with a daily close above it.
The expected trading range for today is between 61.00 support and 64.30 resistance.
The expected trend for today: Bearish
Origin: Economies
