Brent oil price bounced downwards strongly after the temporary gains that it achieved yesterday, to press on 77.05$ level, which forms solid support barrier against the price, noticing that the price begins today with new decline that hints heading to break this level and attempt to open the way to continue the decline on the intraday and short-term basis, waiting to visit 75.66$ as a next main target.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 78.40$ and hold above it.
The expected trading range for today is between 75.60$ support and 78.60$ resistance.
Trend forecast: Bearish
Origin: Economies
