Brent oil price managed to achieve our extended positive target at 71.20 and rebounds downwards clearly from there, which leads the price to achieve expected decline in the upcoming sessions, expecting to target 69.60 level as a first station, noting that breaking this level will extend the bearish wave to reach 67.70 as a next negative target.
Therefore, we expect to witness more decline today unless the price rallied to breach 71.20 and hold above it.
The expected trading range for today is between 69.00 support and 71.70 resistance.
The expected trend for today: Bearish
Origin: Economies
