Brent oil price bounced downwards strongly after finding difficulty to surpass the bearish channel’s resistance, to break 77.44 level and suffer clear losses that reached 75.50, which puts the price under expected negative pressure in the upcoming sessions, on its way to visit 74.35 followed by 71.70 levels as next main stations.
Therefore, the bearish bias will be expected for today unless the price rallied to breach 77.44 followed by 78.15 levels and holding above them.
The expected trading range for today is between 74.00 support and 76.90 resistance.
The expected trend for today: Bearish
Origin: Economies
