Brent oil price bounced downwards clearly after testing 76.80 again in the previous sessions, reinforcing the expectations of continuing the bearish trend on the intraday basis, motivated by stochastic negativity, waiting to visit 74.30 as a next main target.
Breaking 75.60 will ease the mission of achieving the suggested target, while breaching 76.80 will stop the expected bearish trend and push the price to achieve new gains that target 77.75 and might extend to 78.90 areas after surpassing the previous level.
The expected trading range for today is between 74.00 support and 77.30 resistance.
The expected trend for today: Bearish
Origin: Economies
