Brent oil price started today with strong bearish gap that surpassed 73.90$ level to approach the waited negative target at 72.06$, getting negative signals through stochastic that support the chances of continuing the decline in the upcoming sessions, noting that breaking the last level will push the price to suffer additional losses that extend to 70.90$.
Therefore, we expect to witness more bearish bias today, noting that breaching 73.90$ will stop the expected negative pressure and lead the price to attempt to recover and achieve gains that start by visiting 75.36$ areas.
The expected trading range for today is between 71.00$ support and 74.00$ resistance.
Trend forecast: Bearish
Origin: Economies
