Brent oil price ended yesterday with strong negativity after confirming breaking 77.44 level, showing some slight bullish bias by today’s open, and it might test the bearish channel’s resistance before turning back to decline again, as we suggest the continuation of the bearish trend domination within the mentioned channel to head towards 74.65 followed by 73.00 levels as main negative targets.
Therefore, the bearish trend will be expected for the upcoming sessions unless the price rallied to breach 77.44 and hold above it.
The expected trading range for today is between 74.60 support and 77.50 resistance.
The expected trend for today: Bearish
Origin: Economies
