Brent oil price traded with strong negativity in the previous sessions, to surpass our first target at 84.11$ and reach few pips away from our second waited target at 82.74$, noticing that the price shows some bullish bias affected by stochastic positivity, and it might head to test the resistance line formed at 84.11$ before turning back to decline again.
The bearish channel continues to push the price to achieve more expected decline on the short-term basis, which its targets extend to reach 81.38$ after breaking 82.74$, taking into consideration that breaching 84.11$ will stop the current negative scenario and lead the price to attempt to recover and cover the losses that it suffered recently.
The expected trading range for today is between 81.50$ support and 84.50$ resistance.
Trend forecast: Bearish
Origin: Economies
