Brent oil price broke the bullish channel’s support line clearly and ended yesterday below it, to continue the decline and achieve expected bearish correction on the intraday basis, noting that the next negative target is located at 87.70.
Therefore, the bearish bais will be suggested in the upcoming sessions, and breaking 89.80 will ease the mission to achieve the suggested target, while the expected decline will remain valid unless breaching 91.45 and holding above it.
The expected trading range for today is between 88.70 support and 91.60 resistance.
The expected trend for today: Bearish
Origin: Economies
