Brent oil price fluctuates around 78.80 level, noticing that stochastic loses its positive momentum clearly to approach the overbought areas, while the EMA50 continues to press negatively on the price.
Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which its targets begin by breaking 77.70 to rally towards the next correctional target that reaches 75.20, noting that breaching 78.00 will lead the price to achieve additional gains that reach 80.80 before any new attempt to decline.
The expected trading range for today is between 77.00 support and 80.00 resistance.
The expected trend for today: Bearish
Origin: Economies
