Brent oil price couldn’t manage to breach 76.80 level, to rebound downwards strongly and break 75.90 level to head towards achieving more expected decline in the upcoming sessions, targeting testing 74.30 level initially, noting that breaking this level will open the way to suffer additional losses that reach 72.70.
Therefore, the bearish trend will be expected for today, supported by the negative pressure formed by the EMA50, noting that breaching 75.90 followed by 76.80 levels will stop the suggested decline and lead the price to turn to rise.
The expected trading range for today is between 73.40 support and 76.50 resistance.
The expected trend for today: Bearish
Origin: Economies
