Brent oil price tested the bearish channel’s resistance and rebounds bearishly from there, to settle around 72.00, which keeps the bearish trend scenario valid until now, supported by stochastic negativity, waiting to resume the bearish bias that its next target located at 70.00.
We remind you that breaking the mentioned level will extend the bearish wave to reach 67.50 as a next main station, while breaching 72.65 will push the price to test 74.00 before any new negative attempt.
Expected trading range for today is between 70.00 support and 73.20 resistance.
Expected trend for today: Bearish
Origin: Economies
