Brent oil price tests 74.00 level that turns into resistance after breaking it previously, while the price keeps moving tinside the bearish channel that appears on the chart, which keeps the correctional bearish trend scenario active for the upcoming period, noting that our waited targets begin at 72.00 and extend to 70.00 after breaking the previous level.
We should note that breaching 74.00 will push the price to test 75.50 areas and might extend to 76.47 before any new attempt to decline.
Expected trading range for today is between 72.00 support and 75.50 resistance.
Expected trend for today: Bearish
Origin: Economies
