Brent oil price traded with clear negativity on last Friday, as it succeeded to confirm breaking 72.06$ to approach our waited target at 70.65$, reinforcing the expectations of continuing the decline in the upcoming period, noting that breaking the mentioned level will push the price towards 69.11$ as a next main target.
Therefore, we will continue to suggest the bearish trend on the intraday basis, organized inside the bearish channel that appears on the chart, noting that it is important to hold below 72.06$ and 72.36$ levels to continue the expected decline.
The expected trading range for today is between 69.60$ support and 72.60$ resistance.
Trend forecast: Bearish
Origin: Economies
