Brent oil price traded with strong negative yesterday to break 73.90$ level and turn to decline, on its way to visit 72.06$ as a next negative station, noting that breaking this level will push the price to visit 71.15$ followed by 70.00$ levels on the near-term basis.
Moving below the EMA50 supports the expected decline, which will remain valid unless the price rallied to breach 73.90$ and hold above it.
The expected trading range for today is between 71.00$ support and 74.00$ resistance.
Trend forecast: Bearish
Origin: Economies
