Brent oil price bounced downwards strongly on last Friday to attack 81.40$ level and close the daily candlestick below it, to head towards achieving more expected decline on the intraday and short term basis, on its way to visit 79.70$ as a next negative station.
The bearish channel organizes the suggested bearish wave, which gets good support by the EMA50, noting that failing to consolidate below 81.40$ will push the price to attempt to recover and achieve gains that start by testing 82.35$ – 82.74$ levels.
The expected trading range for today is between 79.60$ support and 82.50$ resistance.
Trend forecast: Bearish
Origin: Economies
