Brent oil price could not manage to surpass 74.70 level yesterday, to rebound downwards strongly and touch 38.2% Fibonacci correction level at 72.75, noticing that the price begins today with new bearish bias and attempts to break this level, hinting heading to achieve more expected losses in the upcoming sessions, as the next target reaches 71.20.
Therefore, the bearish bias will be suggested for today unless the price rallied to breach 74.70 and hold above it.
The expected trading range for today is between 71.40 support and 74.50 resistance.
The expected trend for today: Bearish
Origin: Economies
