Brent oil price bounced upwards strongly after approaching 72.00$ barrier, to test the key resistance 74.30 and settles there, noticing that the price begins to decline by today’s open, to support the continuation of the suggested bearish trend in our previous reports, which its next main target reaches 71.60.
Therefore, we are waiting for negative trades in the upcoming sessions, motivated by stochastic current negativity, noting that breaching 74.30 will stop the negative scenario and lead the price to turn to rise.
The expected trading range for today is between 72.00 support and 75.10 resistance.
The expected trend for today: Bearish
Origin: Economies
