Brent oil price keeps rising to test the key resistance 74.30, noticing that the price consolidates below this resistance, as the EMA50 meets this level to add more strength to it, while stochastic loses its positive momentum clearly.
Therefore, these factors encourage us to suggest the bearish rebound in the upcoming sessions to head towards resuming the bearish trend, noting that our next target is located at 71.60, while achieving it requires holding below 74.30.
The expected trading range for today is between 72.00 support and 75.00 resistance.
The expected trend for today: Bearish
Origin: Economies
