Brent oil price broke the intraday bullish channel’s support line clearly and settled below it, to activate the negative scenario on the intraday basis, opening the way to achieve negative targets that start at 95.30 and extend to 93.75.
Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that breaching 97.60 represents initial positive key to attempt to regain the bullish wave again.
The expected trading range for today is between 94.50 support and 98.20 resistance.
The expected trend for today: Bearish
Origin: Economies
