Brent oil price continued to rise to approach the key resistance 92.74, which represents 23.6% Fibonacci correction level that was broken previously, and the EMA50 meets this resistance to add more strength to it, accompanied by witnessing clear negative signals through stochastic now.
Therefore, we believe that the chances valid to resume the bearish trend in the upcoming sessions, and the targets start by surpassing 90.70 to confirm extending the correctional bearish wave towards 89.05, noting that the continuation of the expected decline depends on the price stability below 92.74.
The expected trading range for today is between 90.00 support and 93.00 resistance.
The expected trend for today: Bearish
Origin: Economies
