Brent oil price managed to break 72.06$ level and closed the last daily candlestick below it, which supports the expectations of continuing the domination of the bearish trend in the upcoming period, opening the way to achieve new negative targets that start at 71.15$ and extend to 70.00$ after breaking the previous level.
The negative pressure formed by the EMA50 supports the suggested bearish wave, which will remain valid unless the price rallied to breach 72.06$ and hold above it.
The expected trading range for today is between 70.00$ support and 73.00$ resistance.
Trend forecast: Bearish
Origin: Economies
