Brent Oil Price Analysis
Expected Scenario
Brent oil price ended last Friday with clear negativity, breaking the bullish channel’s support line and starting bearish correction for the rise that started from 76.95$ areas, aiming to visit 85.80$ as a first negative target. Breaking this level represents the key to rally towards 84.10$ directly.
Therefore, the bearish bias will be suggested for today, noting that breaching 87.80$ will stop the negative scenario and push the price to return to the bullish channel again.
Expected Trading Range
The expected trading range for today is between 85.00$ support and 88.00$ resistance.
Trend Forecast: Bearish
Origin: Economies
