Brent oil price achieved additional rise in the previous sessions to test 109.60 level, and the EMA50 meets this resistance to add more strength to it, while stochastic shows clear negative signals now.
Therefore, these factors encourage us to suggest the bearish bias for the upcoming period, and we expect to head towards 105.80 followed by 102.25 levels as next main stations, noting that the continuation of the bearish wave depends on the price stability below 109.60.
The expected trading range for today is between 104.50 support and 110.00 resistance.
The expected trend for today: Bearish
Origin: Economies
