Brent oil price traded with strong negativity in the previous sessions to surpass our first target at 73.90$ and settle below it, confirming the continuation of the bearish wave and head to achieve additional targets that reach 72.06$.
Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50, noting that breaching 73.90$ followed by 75.36$ levels will stop the expected decline and lead the price to turn to rise.
The expected trading range for today is between 71.80$ support and 74.80$ resistance.
Trend forecast: Bearish
Origin: Economies
