Brent oil price keeps declining to head towards testing the key support 81.00, waiting for more bearish bias in the upcoming sessions, being aware that it is important to monitor the price behavior when reaching the mentioned level, due to its importance of determining the next trend.
Note that breaking the mentioned support will push the price to suffer additional losses and open the way to head towards 79.10 followed by 77.44 areas as next negative stations, while consolidating against the current negative pressure will lead the price to resume the bullish wave affected by the previously completed double bottom pattern and visit 83.88 level again.
The expected trading range for today is between 80.70 support and 83.60 resistance.
The expected trend for today: Bearish
Origin: Economies
