Brent oil price couldn’t manage to continue the rise, noticing that the price recorded lower high as appears on the chart, to start declining and heads towards building bearish wave on the intraday basis, targeting visiting 88.20 initially, noting that breaking this level will push the price to 86.75 as a next negative target.
Therefore, we expect to witness more decline in the upcoming sessions, and breaking 89.25 will ease the mission of achieving the suggested targets, while breaching 90.85 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 87.80 support and 90.80 resistance.
The expected trend for today: Bearish
Origin: Economies
