Brent oil price achieved strong decline in the last sessions to surpass our next target at 87.10 and opens the way towards the continuation of the bearish trend on the intraday and short term basis, pointing that the price opens today with an extra decline to head towards achieving new negative targets that begin at 58.05 and extend to 83.90.
The bearish channels organize the suggested bearish wave, which will remain valid conditioned by holding below 88.20 level.
The expected trading range for today is between 83.20 support and 87.00 resistance.
The expected trend for today: Bearish
Origin: Economies
