Brent oil price declined strongly after breaking 106.10 level, to surpass our first negative target at 104.45 and approaches few pips away from the extended target at 102.25, and we expect the continuation of the negative pressure affected by trading inside the bearish channel that appears on the chart to attack the last level and open the way to achieve additional negative targets that reach 99.25.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 104.30.
The expected trading range for today is between 100.00 support and 105.00 resistance.
The expected trend for today: Bearish
Origin: Economies
