Brent oil price shows new test to the bearish channel’s resistance and keeps its stability below it, as the EMA50 meets this resistance to add more strength to it, which supports the continuation of the bearish trend scenario that depends on holding below 75.00, waiting to break 74.00 level to ease the mission of heading towards our next targets that begin at 72.00 followed by 70.00.
We should note that breaching 75.00 will open the way to start recovery attempts that target 76.47 areas initially.
Expected trading range for today is between 73.00 support and 76.47 resistance.
Expected trend for today: Bearish
Origin: Economies
