Brent oil price traded with clear positivity yesterday to breach 81.00 level and settles above it, but we notice that the price is facing intraday resistance that appears on the chart, which hinders the bullish wave, accompanied by witnessing clear overbought signals through stochastic.
Therefore, these factors encourage us to suggest the bearish bias for today, and the targets begin by breaking 81.00 to confirm heading towards 79.00 followed by 77.44, noting that surpassing 81.80 will stop the expected decline and push the price to achieve more gains in the upcoming sessions.
The expected trading range for today is between 79.90 support and 83.00 resistance.
The expected trend for today: Bearish
Origin: Economies
