Brent oil price declined sharply yesterday to surpass our first target at 92.74 and reach the second target at 90.70 now, as it begins today with new strong decline to press on the last level and hint heading to achieve more bearish correction in the upcoming sessions, noting that the next target reaches 89.05.
Therefore, the bearish trend will remain dominant in the upcoming sessions, noting that the consolidation of 90.70 against the current negative pressure will push the price to attempt to build bullish wave that targets testing 92.74 areas initially.
The expected trading range for today is between 89.00 support and 92.00 resistance.
The expected trend for today: Bearish
Origin: Economies
