Brent oil price provided strong negative trades yesterday to move away from 62.50 and settles at the EMA50 now, which supports the continuation of our bearish overview in the upcoming sessions, which targets visiting 59.60 level mainly.
Note that breaking 61.20 will reinforce the expectations to decline, while the bearish trend will remain valid and active unless the price rallied to breach 62.50 level and holding with a daily close above it.
The expected trading range for today is between 59.60 support and 62.50 resistance.
The expected trend for today: Bearish