Brent oil price settles at the EMA50 that forms good resistance against the price, accompanied by stochastic loss to the positive momentum clearly, which supports the chances of bouncing bearishly to resume the negative trades in the upcoming sessions, noting that the expected target reaches 81.00.
Therefore, the negative scenario will remain suggested on the intraday basis, noting that breaching 83.87 will stop the expected decline and lead the price to achieve new gains.
The expected trading range for today is between 81.00 support and 84.00 resistance.
Trend forecast: Bearish
Origin: Economies
