Brent oil price ended last Friday’s trading below the minor bullish channel’s support that appears on chart, to turn the intraday track to the downside, targeting testing the key support levels that start at 48.70 and extend to reach the main bullish channel’s support at 47.30.
Therefore, the bearish bias will be expected for the upcoming sessions, unless the price managed to breach 51.15 level and hold with a daily close above it, which will lead the price to regain its main bullish track that its next target located at 53.80.
Expected trading range for today is between 47.30 support and 52.00 resistance.
Expected trend for today: Bearish
Origin: Economies
