Brent oil price managed to break 73.55$ and hold below it, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, opening the way to head towards our main waited target at 71.60$.
Therefore, we are waiting for more expected decline on the intraday and short-term basis, noting that breaking the targeted level will extend the bearish wave to reach 70.00$ barrier, while holding below 74.30$ represents key condition to the continuation of the suggested bearish trend.
The expected trading range for today is between 71.50$ support and 74.40$ resistance.
Trend forecast: Bearish
Origin: Economies
