Brent oil price provided positive trades yesterday to approach the key resistance 78.80$, but it bounced downwards strongly to resume the expected bearish trend on the intraday and short-term basis, and begins to press on 77.00$ barrier now, waiting to break it to confirm heading towards 75.78$ that represents our next target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 78.80$ will stop the bearish wave and lead the price to turn to rise.
The expected trading range for today is between 75.50$ support and 78.50$ resistance.
Trend forecast: Bearish
Origin: Economies
