Brent oil price bounced downwards strongly after testing 78.00$ barrier in the previous sessions, to break 76.84$ and close the daily candlestick below it, which pushes the price to decline on the intraday basis and head to visit 75.36$ as a first negative station.
Therefore, the bearish bias will be suggested for today, noting that breaching 76.84$ will stop the current negative pressure to rise again and head towards 78.66$ areas on the near-term basis.
The expected trading range for today is between 74.60$ support and 77.60$ resistance.
Trend forecast: Bearish
Origin: Economies
