Brent oil price continued to decline to succeed achieving our suggested target at 77.75$ and reach the recently recorded low at 76.95$, and we suggest the continuation of the bearish bias to surpass this level and achieve additional negative targets that extend to reach 75.30$ areas.
Holding below 78.50$ represents initial condition to the continuation of the expected decline, as breaching it will lead the price to achieve intraday gains and test 79.70$ level initially before any new attempt to decline.
The expected trading range for today is between 76.30$ support and 79.40$ resistance.
Trend forecast: Bearish
Origin: Economies
