Brent oil price couldn’t manage to hold for long time above 96.00 barrier, to rebound downwards strongly and test the EMA50, and we suggest achieving bearish correction that its targets begin by testing 92.74 level.
Therefore, we expect to witness negative trades in the upcoming sessions, and breaking 93.95 will ease the mission of achieving the expected decline, noting that breaching 96.05 will stop the negative scenario and lead the price to return to the main bullish track again.
The expected trading range for today is between 92.70 support and 95.70 resistance.
The expected trend for today: Bearish
Origin: Economies
