Brent oil price faced negative pressures in the previous sessions to break the bullish channel’s support line and head towards achieving bearish correction for the rise measured from 71.24$ to 82.62$, targeting visiting 80.10$ as a first station, which breaking it represents the key to rally towards the next correctional level at 78.40$.
Therefore, the bearish bias will be suggested for today, noting that breaching 81.65$ will push the price to start recovery attempts and achieve gains that start by testing the recently recorded high at 82.82$.
The expected trading range for today is between 79.30$ support and 82.30$ resistance.
Trend forecast: Bearish
