Brent oil price returned to decline after testing 79.00 level, to press on the key support 77.80 again, rienforcing the chances of continuing the expected bearish trend in the upcoming period, which targets testing 77.00 mainly.
Therefore, the negative scenario will remain valid and active, and breaking the targeted level will extend the correctional bearish wave to reach 74.70 as a next target, while the expected decline will remain valid unless breaching 79.40 and holding above it.
The expected trading range for today is between 77.00 support and 79.50 resistance.
The expected trend for today: Bearish
Origin: Economies
