Brent oil prices declined strongly yesterday to succeed achieving our first waited target at 80.96, noticing that the price closed the daily candlestick below it, to pave the way to continue the domination on the correctional bearish trend and head towards achieving additional negative targets that start at 79.85 and extend to 78.90.
Therefore, the bearish trend will remain valid and active for the upcoming period, it might be preceded by some temporary positive fluctuation affected by stochastic current positivity, taking into consideration that failing to consolidate below 80.96 will lead the price to attempt to recover and achieve gains that reach 82.75 and might extend to 83.50 before any new attempt to decline.
The expected trading range for today is between 79.40 support and 82.50 resistance.
The expected trend for today: Bearish
Origin: Economies
