Brent oil price succeeded to touch our waited target at 72.70, and bounced downwards sharply from there to break 69.60 level and settles below it, which puts the price under more expected negative pressure for the upcoming period, on its way to visit 67.40 followed by 64.60 levels mainly.
Therefore, the bearish bias will be suggested for today, taking into consideration that surpassing 69.60 and consolidating above it will push the price to achieve new intraday gains and head to test 72.70 again.
The expected trading range for today is between 67.00 support and 71.00 resistance.
The expected trend for today: Bearish
Origin: Economies
