Brent oil price managed to achieve our first waited target at 72.70, and begins today’s trading with bearish gap that puts the price below this level, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, as we notice that the price completed forming double top pattern that targets 69.60 level as a next main station.
Therefore, we expect to witness more decline on the intrady basis conditioned by the price stability below 72.70.
The expected trading range for today is between 70.00 support and 72.70 resistance.
The expected trend for today: Bearish
Origin: Economies
