Brent oil prices broke 74.30 level strongly and rallied bearishly to achieve our suggested negative targets, reaching 71.85, showing mixed trades by today’s open, to move between 72.00 and 73.00 levels, waiting to get negative motive that assists to push the price to resume the bearish wave and head towards the recently recorded low at 70.15 as a next main target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, and breaking 71.85 will ease the mission of continuing the expected decline, noting that breaching 74.30 will stop the bearish wave and push the price to start recovery attempts that target testing 75.75 followed by 76.80 levels as main positive stations.
The expected trading range for today is between 70.30 support and 74.00 resistance.
The expected trend for today: Bearish
Origin: Economies
