Brent oil price bounced downwards strongly after testing 72.06$ level in the previous sessions, to succeed achieving our first extended target at 70.90$, waiting for more decline to visit 70.00$ that represents our next main target.
Therefore, the bearish trend will remain valid and active for the upcoming period, waiting to get additional negative motive that push the price to achieve the new targets, reminding you that the continuation of the bearish wave depends on the price stability below 72.06$.
The expected trading range for today is between 69.70$ support and 72.70$ resistance.
Trend forecast: Bearish
Origin: Economies
