Brent oil price ended yesterday below 78.80$ level, to support the expectations of continuing the bearish trend on the intraday and short-term basis, on its way to visit 77.60$ followed by 75.80$ levels as next main targets.
Stochastic current positivity might cause some sideways fluctuation before resuming the expected decline, noting that breaching 78.80$ will stop the current negative pressure and lead the price to start recovery attempts that target testing 80.65$ areas initially.
The expected trading range for today is between 77.00$ support and 79.65$ resistance.
Trend forecast: Bearish
Origin: Economies
