Brent oil price managed to achieve our waited target at 81.00 and bounced upwards clearly from there, to test 83.00 barrier, noticing that the price begins to decline again to hint heading towards 81.00 again, threating the previously completed double bottom pattern that its signs appear on the chart.
Therefore, the bearish bias will be suggested for today, noting that breaking this level will push the price to suffer additional losses that reach 79.35 as a next negative station, while breaching 83.87 will stop the expected decline and lead the price to resume the bullish track that its next target reaches 86.74.
The expected trading range for today is between 80.70 support and 83.60 resistance.
The expected trend for today: Bearish
Origin: Economies
