Brent oil price broke 75.66$ level clearly and closed the daily candlestick below it, to complete forming the head and shoulders’ pattern and get negative motive that supports the continuation of the expected bearish trend on the intraday and short-term basis, and we believe that the way is open to achieve our next target at 74.00$.
Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that breaching 75.66$ followed by 76.00$ levels will stop the current negative pressure and push the price to achieve some gains before determining the next destination clearly.
Origin: Economies
