Brent Oil Price Analysis
Expected Scenario
Brent oil price settles near the 77.18$ level, with stochastic beginning to lose positive momentum, indicating a potential resumption of the main bearish trend within the bearish channel on the chart. Our next target is located at 76.00$.
Holding below 78.05$ is important for the continuation of the bearish trend. Breaching it will lead the price to start recovery attempts and achieve intraday gains targeting testing 80.08$ areas before any new negative attempt.
Expected Trading Range
Between 76.00$ support and 79.00$ resistance.
Trend Forecast: Bearish
Origin: Economies
