Oil rose on Tuesday as investors sought to hunt deals by buying crude at cheap prices after about four percent plunged in the previous session, but fears that the spread of the Corona virus outside China will affect major economies and curb fuel demand curbed the gains. .

Brent crude price shows some bullish tendency to test the $ 56.00 barrier now, in conjunction with the stochastic loss of positive momentum and reaching the outskirts of the overbought areas, waiting for the bounce to drop to resume the expected bearish direction in the intraday and short term, which It targets the recently recorded bottom level at 53.23 as the first major stop.

SMA 50 supports the expected decline, which requires it to persist below 57.36.

The expected trading range for today is between 54.00 support and 57.00 resistance

Expected trend for today: Downside