Brent oil price attempted to break 72.65$ and declined to reach 71.00$ barrier, but it returns to fluctuate above the first level, waiting to get strong negative motive that assist to push the price to confirm the break again and rise towards our expected negative target at 70.65$.
Therefore, the bearish trend will remain valid and active for the upcoming period, noting that breaching 72.75$ will stop the expected decline and lead the price to achieve intraday gains that start by testing 73.90$.
The expected trading range for today is between 70.50$ support and 73.50$ resistance.
Trend forecast: Bearish
Origin: Economies
