Brent oil price opens today’s trading with new negativity, as it attempts to break 79.70$ level, reinforcing the expectations of continuing the bearish trend on the intraday and short-term basis, paving the way to head towards 78.00$ followed by 76.95$ as next negative targets.
The bearish channel continues to organize the suggested bearish wave, noting that the consolidation of 79.70$ level against the current negative pressure might lead the price to attempt to recover and achieve intraday gains that target visiting 81.40$ before any new negative targets.
The expected trading range for today is between 77.80$ support and 80.80$ resistance.
Trend forecast: Bearish
Origin: Economies
