Brent oil price traded with clear positivity yesterday but it stopped at the resistance line that appears on the chart, noticing that stochastic shows clear overbought signals now, waiting to motivate the price to resume the main bearish trend, which targets 71.70 areas as a next main station.
Therefore, we expect to witness negative trades in the upcoming sessions, taking into consideration that breaching 75.05 will stop the negative scenario and push the price to achieve more gains on the intraday basis.
The expected trading range for today is between 72.90 support and 75.90 resistance.
The expected trend for today: Bearish
Origin: Economies
