Brent oil price ended yesterday with clear negativity, and started today with additional decline to break the bullish channel’s support line and settles below it, which puts the price under the expected negative pressure in the upcoming period, on its way to test 84.20 level initially, which breaking it represents the key to extend the bearish wave to reach 81.35.
Holding below 87.00 will keep the negative pressure valid, while breaching it will lead the price to return to the bullish track again.
The expected trading range for today is between 84.20 support and 87.00 resistance.
The expected trend for today: Bearish
Origin: Economies
