Brent oil price managed to break 49.21 level and close the daily candlestick below it, which supports the continuation of our bearish trend expectations efficiently in the upcoming period, and the way is open for heading towards 47.05 that represents our next main target.
On the other hand, breaking 48.47 level will complete forming minor bearish technical pattern that will ease achieving the mentioned target, noticing that the EMA50 keeps supporting the suggested bearish wave, and its continuation conditioned by holding below 50.00 and 50.96 levels.
Expected trading range for today is between 47.05 support and 50.00 resistance.
Expected trend for today: Bearish
Origin: Economies
