Brent oil price traded with strong negativity yesterday to reach our waited target at 84.33, starting today with additional bearish bias that hints heading to break this level and open the way to achieve additional bearish correction in the upcoming sessions, noting that the next negative targets reach 83.20 followed by 81.90.
Therefore, the bearish bias will remain suggested on the intraday basis, supported by moving below the EMA50, noting that breaching 85.75 will stop the current negative pressure and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 83.00 support and 86.00 resistance.
The expected trend for today: Bearish
Origin: Economies
