Brent oil price provided clear positive trades to attack 71.20 level, accompanied by stochastic loss to the positive momentum and witnessing clear overbought signals, which forms negative motive that we expect to push the price to decline again.
Therefore, the bearish bias will be suggested for the upcoming perid, which its targets begin by testing 69.65 again, noting that consolidating above 71.20 will stop the negative scenario and lead the price to achieve more gains that reach 72.75 on the near term basis.
The expected trading range for today is between 69.70 support and 72.60 resistance.
The expected trend for today: Bearish
Origin: Economies
