Brent oil price rallied upwards after surpassing 105.05, to touch the first suggested positive target at 107.15 and rebounds bearishly from there, to head towards resuming the bearish bias on the intraday basis, noting that breaking 105.05 will reinforce the bearish wave that targets 102.75 followed by 98.85 levels as next main stations.
Therefore, the bearish trend will be expected for today, noting that failing to break 105.05 will push the price to resume the positive trades and achieve more gains on the intraday basis.
The expected trading range for today is between 102.00 support and 107.00 resistance.
Origin: Economies
