Brent oil price touched 64.50 level and begins to rebound bearishly from there, noticing that stochastic and the EMA50 provide clear negative signals, while the price moves within intraday bearish channel that appears on the chart.
Therefore, these factors encourage us to suggest the bearish trend for today, and the price needs to break 62.95 to confirm heading towards more negative targets that reach 60.40, noting that breaching 65.00 will stop the expected decline and lead the price to turn to rise again.
The expected trading range for today is between 61.50 support and 64.50 resistance.
The expected trend for today: Bearish
Origin: Economies
