Brent oil price resumes its negative trading strongly after the positive attempts that it witnessed in the previous sessions, to suffer clear losses and approach our waited negative target at 71.60, reinforcing the expectations of continuing the bearish trend domination, noting that breaking this level will push the price to visit the psychological barrier at 70.00 as a next main station.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 74.30 and hold with a daily close above it.
The expected trading range for today is between 71.00 support and 74.00 resistance.
The expected trend for today: Bearish
Origin: Economies
