Brent oil price is testing the EMA50, noticing that stochastic provides negative signals on the four hours’ time frame, waiting to motivate the price to resume the negative trades, reminding you that our targets begin by breaking 81.00 to confirm rallying towards 77.44.
Holding below 82.10 represents the first condition to the continuation of the expected decline, as breaching it will push the price to test the key resistance at 83.87 before any new attempt to decline.
The expected trading range for today is between 80.00 support and 82.80 resistance.
The expected trend for today: Bearish
Origin: Economies
