Brent oil price succeeded to achieve our first waited negative target at 90.20, as it declined strongly yesterday after consolidating below 93.30, getting continuous negative support by the EMA50, to reinforce the chances of breaking 90.20 and open the way to achieve additional negative targets that reach 88.25.
Therefore, the bearish trend scenario will remain valid and suggested for the upcoming period unless the price rallied to breach 93.30 level and hold above it.
The expected trading range for today is between 89.00 support and 93.00 resistance.
The expected trend for today: Bearish