Brent oil price faced strong negative pressure by yesterday’s close, to break 76.84$ and reach 75.36$ level, and begins to press on this level to witness signs of double top pattern that we expect to push the price to suffer more losses in the upcoming sessions, on its way to visit 73.90$ as a next negative station.
Therefore, the bearish trend will be suggested for today, taking into consideration that the consolidation of 75.36$ level against the current negative pressure will lead the price to recover and attempt to achieve intraday gains that start by testing 76.84$ areas.
The expected trading range for today is between 73.70$ support and 76.70$ resistance.
Trend forecast: Bearish
Origin: Economies
