Brent oil price provided negative trades after testing the EMA50 in the previous sessions, to keep the bearish trend scenario active on the intraday basis, which its main targets located at 81.00.
It is important to monitor the price at the mentioned level, as breaking it will push the price to suffer additional losses that reach 79.20 followed by 77.44, while on the other hand, breaching 83.87 represents the key to get rid of the current negative pressure and head to build new bullish wave that targets 86.74 areas on the near-term basis.
The expected trading range for today is between 81.00 support and 84.00 resistance.
Trend forecast: Bearish
Origin: Economies
