Brent oil price found solid support at 73.90$, to rebound bullishly and head towards retesting the broken neckline of the double top pattern that appears on the chart, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which its targets extend to reach 72.06$.
Holding below 75.36$ – 75.60$ levels is important to the continuation of the expected decline, as breaching them will stop the negative scenario and push the price to build new bullish wave that its targets begin at 76.84$.
The expected trading range for today is between 73.20$ support and 76.20$ resistance.
Trend forecast: Bearish
Origin: Economies
