Brent oil price tests 47.30 level, and as we mentioned this morning, breaking this level will activate the negative effect of the double top pattern that has negative targets that start at 45.88.
Until now, the bearish trend scenario still suggested for today, noting that failing to achieve the required break and rising to breach 48.15 will stop the expected decline and leads the price to resume the main bullish trend again.
The expected trading range for today is between 46.00 support and 48.70 resistance.
The expected trend for today: Bearish temporarily