Brent oil price bounced bearishly yesterday after approaching 53.20 level, which supports the continuation of our bearish overview, which its next main targets located at 49.87 followed by 48.00.
The EMA50 keeps supporting the suggested bearish wave, noting that breaching 53.20 will push the price to test the main bearish channel’s resistance at 56.30 before any new attempt to resume the main bearish trend.
The expected trading range for today is between 50.00 support and 53.20 resistance.
The expected trend for today: Bearish
Origin: Economies
