Brent oil price bounced downwards strongly after testing 81.00 level in the previous sessions, to surpass our first negative target at 79.45 and approach the second target at 77.44, and we suggest the continuation of the bearish bias to break this level and suffer more losses on the intraday and short-term basis.
Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 81.00 will stop the negative scenario and lead the price to turn to rise.
The expected trading range for today is between 76.80 support and 79.80 resistance.
The expected trend for today: Bearish
Origin: Economies
