Brent oil price succeeded to achieve our waited target at 98.85 and found solid support there, to rebound bullishly and trade around 101.00, noticing that the EMA50 forms continuous negative pressure against the price, to continue suggesting the bearish trend that its targets extend to 95.45 on the near term basis.
Note that the continuation of the bearish trend depends on the price stability below 105.05.
The expected trading range for today is between 98.00 support and 103.00 resistance.
The expected trend for today: Bearish
Origin: Economies
