Brent oil price fluctuates within bearish pennant pattern that appears on the chart, which means that breaking 76.60$ will motivates the price to resume the negative trades and open the way to head towards our expected targets that extend to 75.30$ followed by 74.00$.
Therefore, our bearish overview will remain valid for the upcoming period, noting that breaching 77.80$ will cancel the suggested negative formation and push the price to recover and achieve gains that reach 79.40$.
The expected trading range for today is between 75.60$ support and 78.50$ resistance.
Trend forecast: Bearish
Origin: Economies
