Brent oil price provided mixed trades yesterday, as it approached 80.00$ barrier, but it bounced bearishly to settle around 78.00 level, to keep the bearish trend scenario valid for the upcoming period, waiting to test 77.44 level as a next station, noting that breaking this level will push the price to suffer additional losses that reach 76.00 areas.
On the other hand, we should note that surpassing 79.20 will push the price to achieve intraday gains and head to visit the most important resistance at 81.00 before any new attempt to decline.
The expected trading range for today is between 76.50 support and 79.50 resistance.
The expected trend for today: Bearish
Origin: Economies
