Brent oil price traded with strong negativity yesterday to succeed achieving our first waited target at 86.75, noticing that the price broke this level and closed the daily candlestick below it, to head toward achieving more decline that its next target reaches 83.87.
Therefore, the bearish trend scenario will remain dominant in the upcoming sessions, supported by the negative pressure formed by the EAM50, taking into consideration that failing to consolidate below 86.75 will lead the price to start recovery attempts and achieve gains that start by visiting 88.60 followed by 90.30 areas.
The expected trading range for today is between 84.50 support and 87.50 resistance.
The expected trend for today: Bearish
Origin: Economies
