Brent oil price continues to decline to settle around 72.00 barrier, waiting to get new negative motive that assists to push the price to resume the bearish wave that its next target located at 70.15.
The EMA50 continues to support the expected bearish trend, and breaking the targeted level will push the price to suffer more losses on the longer term basis, taking into consideration that the consolidation of 71.65 level against the current negative pressure and failing to break it will push the price to build intraday bullish wave that targets testing 74.30 areas before any new attempt to decline.
The expected trading range for today is between 70.30 support and 73.60 resistance.
The expected trend for today: Bearish
Origin: Economies
