Brent oil price bounced lower clearly after approaching from the waited initial positive target at 94.80, to test 92.74 support level again, noticing that the price forms a negative technical combination that we expect to put the price under the bearish correctional pressure again, and the targets begin by breaking the mentioned support against the rally towards 90.70.
Therefore, the bearish trend will be preferred in the upcoming sessions, being aware that breaching 94.40 will stop the suggested bearish scenario and pushes the price to regain the main bullish trend.
The expected trading range for today is between 91.60 support and 94.60 resistance.
The expected trend for today: Bearish
Origin: Economies
