Brent oil price traded with strong negativity yesterday to succeed achieving our extend target at 74.50 and settles near it, expecting the continuation of the bearish bias and head to achieve new negative targets that start at 72.70 and extend to the previously recorded low at 71.70.
The EMA50 supports the suggested bearish wave, which moves inside the bearish channel that appears on the chart, taking into consideration that breaching 75.60 will push the price to achieve intraday gains that target testing the key resistance 77.44 before any new attempt to decline.
The expected trading range for today is between 73.00 support and 76.00 resistance.
The expected trend for today: Bearish
Origin: Economies
