Brent oil price provided strong positive trades in the upcoming sessions to retest the previously broken horizontal support line that turns into key resistance now at 66.90, as it keeps its stability below it until now, accompanied by witnessing overbought signals through stochastic, while the EMA50 forms negative pressure against the price.
Therefore, these factors encourage us to suggest the decline today, to head towards 63.60 areas mainly, noting that breaching 66.90 and holding above it will stop the negative scenario and push the price to achieve gains that start at 69.55.
The expected trading range for today is between 65.00 support and 67.80 resistance.
The expected trend for today: Bearish
Origin: Economies
