Brent Oil Price Analysis
Expected Scenario
Brent oil price shows additional negative trades, but it finds good support formed at the breached resistance line of the bearish channel that appears on the chart, waiting to get negative motive that assist to push the price to continue the decline and achieve our next target at 80.08$.
Holding below 82.45$ keeps the bearish trend scenario active for the upcoming period, as breaching it will lead the price to start recovery attempts and achieve gains that target 84.77$ areas initially.
Expected Trading Range
Between 80.00$ support and 82.90$ resistance.
Trend Forecast: Bearish
Origin: Economies
