Brent oil price attempts to breach the bearish channel’s resistance now, which urges caution from the upcoming trading, as confirming the breach will push the price to test 74.00 level before any new negative attempt.
Until now, we will continue to suggest the bearish trend conditioned by the daily candlestick stability below 72.70, noting that our main targets begin by breaking 72.00 to confirm opening the way to head towards 70.00 as a first main station.
Expected trading range for today is between 71.00 support and 74.00 resistance.
Expected trend for today: Bearish
Origin: Economies
