Brent oil price settles below 86.75 level, to keep the negative pressure valid for the upcoming period, waiting to visit 83.87 as a next main target.
Therefore, we expect to witness new negative trades on the intraday basis, supported by the negative pressure formed by the EMA50, taking into consideration that breaching 86.75 will lead the price to start recovery attempts that target visiting 88.65 followed by 90.30 levels on the near-term basis.
The expected trading range for today is between 84.50 support and 87.50 resistance.
The expected trend for today: Bearish
Origin: Economies
