Brent oil price traded with strong negativity to break 74.00 level and settles below it, activatin the bearish trend scenario on the intraday and short term basis, to extend the correctional bearish wave and target 72.00 followed by 70.00 levels as next main stations.
Therefore, the bearish trend will be suggested in the upcoming sessions, organized inside the bearish channel that appears on the chart, noting that breaching 74.00 will stop the expected decline and push the price to achieve gains that start at 76.47.
Expected trading range for today is between 70.50 support and 74.00 resistance.
Expected trend for today: Bearish
Origin: Economies
