Brent oil price trades bounced upwards strongly yesterday to approach 78.00$ barrier, noticing that stochastic shows overbought signals and overlaps negatively now, to form negative motive that we expect to push the price to decline again, waiting to start new bearish wave that targets 75.78$ arras mainly.
Therefore, the bearish trend will remain suggested for today, taking into consideration that surpassing 77.75$ will push the price to continue the rise and test 78.80$ before any new negative attempt.
The expected trading range for today is between 75.60$ support and 78.60$ resistance.
Trend forecast: Bearish
Origin: Economies
