Brent oil price attempted to surpass 79.00 barrier but it finds difficulty to hold above it, to lose its positive momentum and hint stopping the bullish wave at these areas, to suggest bouncing bearishly and start bearish wave that targets testing 73.44 initially, noting that breaking this level will push the price to suffer additional losses that reach 75.55 areas.
The EMA50 forms negative pressure that supports the expected decline for today, noting that breaching 79.55 will stop the negative scenario and push the price to achieve additional gains that reach 81.00.
The expected trading range for today is between 77.30 support and 80.00 resistance.
The expected trend for today: Bearish
Origin: Economies
