Brent oil price succeeded to achieve our first waited target at 71.30 and bounced bullishly to test 72.00 barrier now, and the price falls under continuous negative pressure coming by the EMA50, while the bearish channel keeps organizing the current bearish wave.
Therefore, we will continue to suggest the bearish trend in the upcoming period, reminding you that our next target is located at 70.30, while holding below 74.16 represents key condition to achieve the waited targets.
Expected trading range for today is between 70.30 support and 73.00 resistance.
Expected trend for today: Bearish
Origin: Economies
