Brent oil price couldn’t manage to hold for long time above 75.20, to break it and turn to decline on the intraday basis, on its way to test 72.70 level initially.
On the other hand, we notice that the price forms double top pattern that we expect to push the price to surpass the mentioned target and reach 71.00 as a next negative target, making the bearish bias suggested in the upcoming sessions unless the price managed to breach 75.20 and hold above it again.
The expected trading range for today is between 72.50 support and 75.30 resistance.
The expected trend for today: Bearish
Origin: Economies
