Brent oil price declined strongly yesterday to succeed achieving our extended targe tat 74.30, finding solid support there to show some bullish bias and settle around the EMA50 now, and we suggest resuming the negative trades to surpass the mentioned level and achieve additional decline that its next target reaches 72.35.
Therefore, the bearish trend will remain expected in the upcoming sessions, which depends on the price stability below 76.80, as breaching it will stop the current negative pressure and push the price to start new recovery attempts on the intraday basis.
The expected trading range for today is between 73.80 support and 77.10 resistance.
The expected trend for today: Bearish
Origin: Economies
