Brent oil price succeeded to achieve our waited target at 77.44 and settles there, and we suggest breaking this level to open the way to achieve additional negative targets in the upcoming period, noting that the next station reaches 75.20.
The EMA50 forms negative pressure that supports the continuation of the suggested bearish wave, noting that breaching 78.35 will stop the expected decline and lead the price to start recovery attempts and build bullish wave that targets visiting 81.00 areas mainly.
The expected trading range for today is between 76.00 support and 79.00 resistance.
The expected trend for today: Bearish
Origin: Economies
