Brent oil price traded with new strong negativity yesterday to achieve our second waited targe tat 77.50, showing some bullish bias to head towards potential test to the minor resistance formed at 79.60 after breaking it previously, as the price is affected by stochastic positivity, waiting to get negative motive that assists to push the price to resume the bearish wave that its extended target reaches 75.18.
Therefore, the overall bearish trend will remain suggested for the upcoming period, noting that breaching 79.60 will push the price to test the most important resistance at 81.30 before any new negative attempt.
The expected trading range for today is between 76.60 support and 79.80 resistance.
The expected trend for today: Bearish
Origin: Economies
