Brent oil price settled below the broken support of the bullish channel, to achieve bearish correction for the rise that started from 69.29 areas, as the first correctional target is located at 89.35.
The EMA50 forms negative pressure that supports the chances of continuing the decline in the upcoming sessions, making the bearish bias dominant unless the price rallied to breach 92.30 level and hold above it.
The expected trading range for today is between 89.35 support and 92.30 resistance.
The expected trend for today: Bearish
Origin: Economies
