Brent oil price attempted to breach 76.56 level but it keeps its stability below it, to resume the negative trading and approach the bearish channel’s support line that appears on the chart, reinforcing the expectations of continuing the bearish trend in the upcoming period, and we believe that the way is open to achieve our next target at 74.00.
Holding below 76.56 is important to continue the expected decline, as breaching it will push the price to start recovery attempts that target testing 78.50 areas initially.
Expected trading range for today is between 74.00 support and 77.00 resistance.
Expected trend for today: Bearish
Origin: Economies
