Brent oil price faced clear negative pressure yesterday to break 83.87 and settles below it, which puts the price inside the sideways range that appears on the chart again, to head towards achieving potential decline in the upcoming sessions, targeting visiting 81.00 areas mainly.
Therefore, the sideways bias will be expected on the intraday basis, and breaking 83.00 will confirm the continuation of the bearish bias in the upcoming sessions, taking into consideration that breaching 83.87 will lead the price to recover again and build bullish wave that its next main target reaches 86.74.
The expected trading range for today is between 81.60 support and 84.60 resistance.
The expected trend for today: Sideways
Origin: Economies
