Brent oil price keeps declining after surpassing the EMA50, to gradually approach the key support 81.00, to continue suggesting the bearish bias on the intraday basis, being aware that it is important to monitor the price at this level, due to its importance of determining the next trend.
Note that the continuation of the decline and breaking 81.00 will push the price to suffer additional losses that reach 79.20 as a next negative station, while consolidating above it will lead the price to start recovery attempts and achieve gains that reach 83.87 initially.
The expected trading range for today is between 80.20 support and 83.00 resistance.
Trend forecast: Bearish
Origin: Economies
