Brent oil price bounced bearishly after failing to surpass the resistance line formed at the previously broken support of the main bullish channel, to press on 90.30 level and move below it now, which pushes the price to return to the correctional bearish track again, on its way to achieve negative targets that start at 89.20 and extend to 86.75 after breaking the previous level.
Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 90.30 will push the price to recover again and achieve gains that start by testing 91.80 areas.
The expected trading range for today is between 88.30 support and 91.20 resistance.
The expected trend for today: Bearish
Origin: Economies
