Brent oil price retested the previously broken support line of the bullish channel and bounced bearishly from there, to keep the bearish trend scenario active for the upcoming period, supported by the EMA50 and stochastic negativity, waiting to visit 63.95 followed by 63.10 levels as next main stations.
Holding below 66.40 is important to continue the expected decline, as breaching it will stop the current negative pressure and bring the price back to the main bullish channel again.
The expected trading range for today is between 63.95 support and 66.50 resistance.
The expected trend for today: Bearish temporarily
Origin: Economies
