Brent oil price traded negatively yesterday to start testing 72.06$ level, waiting to break this level to open the way to continue the expected bearish trend on the intraday and short-term basis, reminding you that our next targets start at 70.85$ followed by 70.00$.
The negative pressure formed by the EMA50 supports the suggested bearish wave, taking into consideration that the consolidation of 72.06$ level against the price will lead the price to start recovery attempts and target testing 73.90$ mainly.
The expected trading range for today is between 70.50$ support and 73.50$ resistance.
Trend forecast: Bearish
Origin: Economies
