Brent oil price shows sideways trades, settling around 86.50 level, noticing that stochastic lost its positive momentum and approaches to overlap negatively now, to provide negative motive that we expect to push the price to decline in the upcoming sessions and head to visit the first correctional level at 83.50.
Therefore, the bearish trend will remain suggested on the intraday basis, depending on the price exit from the bullish channel, noting that breaching 87.10 followed by 87.65 levels will lead the price to resume the main bullish trend and head to test 89.00 areas initially.
The expected trading range for today is between 84.60 support and 87.60 resistance.
The expected trend for today: Bearish
Origin: Economies
