Brent oil price rallied upwards yesterday to approach 80.96 level, but it bounced bearishly to keeps the bearish trend scenario valid for the upcoming period, waiting to test 78.90 as a first negative station, noting that breaking this level will push the price to 77.70 as a next main target.
Therefore, we will continue to suggest the bearish trend on the intraday basis, taking into consideration that breaching 80.96 will push the price to regain the bullish track and head towards achieving new gains that reach 82.00 areas initially.
The expected trading range for today is between 77.70 support and 80.50 resistance.
The expected trend for today: Bearish
Origin: Economies
