Brent oil price keeps declining to approach the first extended target at 79.90, and we expect to break this level to open the way to head towards the bullish channel’s support line at 77.90.
Therefore, the negative scenario will remain dominant on the intraday basis, noting that breaking 80.90 is considered as an initial positive key that will lead the price to attempt to return to the main bullish trend again.
The expected trading range for today is between 78.50 support and 81.50 resistance.
The expected trend for today: Bearish
Origin: Economies
