Brent oil price traded with strong negativity yesterday to succeed achieving our second target at 72.06$, as it was affected by the new double top pattern that its signs appear on the chart, which has negative targets that surpass the mentioned level to reach 71.20$ followed by 70.65$ levels as next negative stations.
Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that failing to surpass 72.06$ will lead the price to build intraday bullish wave that targets testing 73.90$ areas before determining the next destination clearly.
The expected trading range for today is between 70.20$ support and 73.20$ resistance.
Trend forecast: Bearish
Origin: Economies
