Brent oil price bounced downwards sharply to break 90.00$ barrier, paving the way to achieve more expected decline on the intraday and short term basis, noting that the next negative targets reach 87.00 followed by 85.00.
The bearish channel organizes the suggested bearish wave, supported by the negative pressure formed by the EMA50, taking into consideration that breaching 90.20 will stop the current negative scenario and lead the price to achieve some intraday bullish correction.
Therefore, we will stay aside now until we get clearer signal for the next trend.
The expected trading range for today is between 87.70 support and 91.50 resistance.
The expected trend for today: Bearish
Origin: Economies
