Brent oil price declined strongly yesterday after confirming breaking 96.10 level, to achieve our negative targets and surpass 93.25 to open the way to suffer more losses on the intraday and short term basis, and we expect to head towards 90.00 areas in the upcoming sessions.
The EMA50 forms continuous negative pressure against the price to support the continuation of the expected bearish trend, noting that holding below 93.25 represents initial condition to achieve the suggested targets.
The expected trading range for today is between 90.00 support and 94.20 resistance.
The expected trend for today: Bearish
Origin: Economies
