Brent oil price traded with strong negativity yesterday to approach our main waited target at 74.00, and keeps moving inside the bearish channel that appears on the chart, which supports the chances of extending the bearish wave towards new negative targets that reach 71.90.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis unless the price managed to breach 76.56 level and hold above it.
Expected trading range for today is between 73.00 support and 75.50 resistance.
Expected trend for today: Bearish
Origin: Economies
