Brent oil price continued to decline yesterday to settle around 72.00, noticing that the price closed the daily candlestick below this level, which supports the chances of continuing the bearish trend on the short term basis, noting that our next station is located at 70.00.
Therefore, the bearish bias will remain suggested in the upcoming period unless the price managed to breach 74.00 and hold above it.
Expected trading range for today is between 70.00 support and 74.00 resistance.
Expected trend for today: Bearish
Origin: Economies
