Brent oil price succeeded to achieve our first waited target at 86.74, starting today with additional decline to surpass this level and attempts to hold below it, which supports the continuation of the bearish trend domination in the upcoming sessions, paving the way to visit the next correctional level that reaches 83.87.
Therefore, we are waiting for more expected decline on the intraday and short-term basis, noting that breaching 86.74 will push the price to attempt to build bullish wave that its targets begin at 89.00 followed by 90.30.
The expected trading range for today is between 84.20 support and 87.50 resistance.
The expected trend for today: Bearish
Origin: Economies
