Brent oil price provided clear negative trades yesterday to approach 72.06$ level, waiting for more decline to break this level and confirm heading towards our next targets that extend to 71.00$ followed by 70.45$.
Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that breaching 73.90$ will stop the expected bearish wave and lead the price to turn to rise and build bullish wave that targets testing 75.36$ areas on the near-term basis.
The expected trading range for today is between 71.00$ support and 74.00$ resistance.
Trend forecast: Bearish
Origin: Economies
