Brent oil price rallied upwards strongly yesterday to succeed achieving our extended target at 81.36$, noticing that the price begins today with clear decline to head towards building expected bearish wave on the intraday basis, its first main target is located at 78.47$.
Therefore, the bearish bias will be expected for today, supported by the negative overlapping signal provided by stochastic now, noting that breaching 81.36$ will stop the expected decline and lead the price to resume the bullish track on the intraday and short-term basis.
The expected trading range for today is between 78.20$ support and 81.50$ resistance.
Trend forecast: Bearish
Origin: Economies
