Brent oil price broke the key support levels 112.00 and 110.10 strongly, to settle below the last level and open the way to continue the decline in the upcoming period, on its way to visit 105.05 areas on the near term basis.
Therefore, the bearish bias will be expected for today, supported by the negative pressure formed by the EMA50, noting that the continuation of the bearish wave requires holding below 110.10.
The expected trading range for today is between 105.50 support and 111.00 resistance.
The expected trend for today: Bearish
Origin: Economies
