Brent oil price begins today with strong negativity to break the bullish channel’s support line and settles below it, to start bearish correction for the bullish wave measured from 71.70 to 88.22, opening the way to head towards 84.33 areas as a next main station.
Therefore, the bullish bias will be expected in the upcoming sessions, and breaking 85.90 will complete forming negative pattern that supports the continuation of the suggested bearish trend, noting that breaching 86.85 will stop the expected decline and lead the price to return to the main bullish trend again.
The expected trading range for today is between 84.30 support and 87.30 resistance.
The expected trend for today: Bearish
Origin: Economies
