Brent oil price continued to decline yesterday to reach few pips away from our second waited target at 81.90, and showed attempts to recover and achieve intraday gains but it returns to decline now, to support the chances of continuing the domination of the bearish correction and achieve additional negative targets that we expect to reach 80.00 areas on the near-term basis.
Therefore, the bearish trend scenario will remain valid and active for the upcoming period, noting that breaching 84.33 will stop the expected decline and lead the price to regain the main bullish trend again.
The expected trading range for today is between 81.00 support and 84.33 resistance.
The expected trend for today: Bearish
Origin: Economies
