Brent oil price faced strong negative pressure yesterday, as it attacked 81.00 and suffered strong losses that reached 78.70, noticing that the price returned to fluctuate around the first level, and we suggest resuming the negative trades and decline towards 77.44 areas on the near-term basis, as it falls under negative pressure formed by the EMA50.
Therefore, the bearish bias will be expected for today, noting that breaching 82.10 will stop the current negative pressure and lead the price to turn to rise.
The expected trading range for today is between 79.30 support and 82.30 resistance.
The expected trend for today: Bearish
Origin: Economies
