Brent oil price managed to touch our first waited target at 92.74 and settles near it, and we suggest breaking this level to activate the negative effect of the double top pattern that appears on the chart followed by rallying towards our next correctional target that reaches 90.70.
Therefore, we are waiting for more expected decline on the intraday and short term basis, noting that breaching 94.20 will stop the suggested negative scenario and push the price to attempt to return to the main bullish track again.
The expected trading range for today is between 91.30 support and 94.40 resistance.
The expected trend for today: Bearish
Origin: Economies
