Brent oil price broke 81.30 level strongly and settled below it, to stop yesterday’s suggested positive scenario and head towards suffering new losses on the intraday and short term basis, as we suggest visiting 79.05 followed by 77.50 levels as next main targets.
Therefore, the bearish bias will be expected for today, supported by the technical indicators’ negativity that appears on now, noting that breaching 81.30 will stop the current negative pressure and lead the price to attempt to return to the correctional bullish track again.
The expected trading range for today is between 78.00 support and 81.30 resistance.
The expected trend for today: Bearish
Origin: Economies
