Brent oil price declined strongly yesterday to succeed to hit our initial waited target at 72.70, and begins today with a new decline as a signal to head to surpass this level and openining the way towards the extended target that reach 69.60.
Therefore, we keep preferring the bearish trend in the upcoming period, supported by the negativity of the EMA50 and stochastic negativity, taking into consideration that holding below 75.20 represents the first condition for the continuation of the expected deline.
The expected trading range for today is between 71.00 support and 75.00 resistance.
The expected trend for today: Bearish
Origin: Economies
