Brent crude oil settled bearishly in its last trading on the intraday levels, amid the continuation of the negative pressure that caused by its trading below EMA50, with its stability below $62.00, confirming the extension of the decline, on the other hand, we notice the emergence of positive overlapping signals on the (RSI), after reaching oversold levels, which assisted the price to settle temporarily on the intraday basis, attempting to offload some of this oversold condition.
Therefore, our expectations suggest more of the downside moves in the upcoming intraday trading, conditioned by its stability above $62.00, to target the key support level at $60.00
The expected trading range is between $60.00 support and $62.00 resistance.
Today’s forecast: Bearish
Origin: Economies
