Brent oil price provided clear negative trades on yesterday’s evening to break the intraday bullish trend line, which puts the price under expected negative pressure in the upcoming sessions, to head towards visiting the main bullish channel’s support line around 81.15.
Therefore, we expect the continuation of the bearish bias on the intraday basis unless breaching 84.35 and holding above it, as breaching this level will motivate the price to regain the main bullish track again and head towards 86.65 initially.
The expected trading range for today is between 82.30 support and 85.00 resistance.
The expected trend for today: Bearish
Origin: Economies
