Brent oil price continued to decline to break 80.55$ and settle below it, to start bearish correction for the rise measured from 71.23$ to 81.90$, on its way to test 79.40$ initially, noting that breaking this level will extend the bearish wave to reach 77.83$ as a next negative station.
The continuation of the bearish wave depends on the price stability below 81.00$, as breaching this level represents the key to return to the bullish track and stop the current bearish correction.
The expected trading range for today is between 78.40$ support and 81.40$ resistance.
Trend forecast: Bearish
Origin: Economies
