Brent oil price touched our new target at 85.33 and ended yesterday below it, to pave the way to continue the decline and achieve additional negative targets that extend to 83.70 areas, to keep the bearish trend dominant in the upcoming sessions, noting that surpassing the last level will push the price to 82.00 direct.
Therefore, our bearish overview will remain valid on the intraday and short-term basis, taking into consideration that failing to consolidate below 85.33 will lead the price to start recovery attempts and head towards 87.37 on the near-term basis.
The expected trading range for today is between 83.50 support and 86.50 resistance.
The expected trend for today: Bearish
Origin: Economies
