Brent oil price succeeded to achieve our waited target at 81.00 and surpassed it to close the daily candlestick below it, confirming the continuation of the bearish trend scenario in the upcoming sessions, opening the way to achieve additional negative targets that reach 77.45 areas.
Therefore, the bearish trend scenario will remain valid and active, supported by the EMA50 that presses negatively on the price, noting that breaching 81.00 will stop the current negative pressure and push the price to attempt to build bullish wave on the intraday basis.
The expected trading range for today is between 79.00 support and 81.90 resistance.
The expected trend for today: Bearish
Origin: Economies
