Brent oil price achieved strong rise by today’s open to reach 78.00$ barrier, noticing that the price bounced downwards quickly to settle below 77.05$, which puts the price under expected negative pressure in the upcoming sessions, targeting visiting 75.66$ as a next negative target.
Therefore, we expect to witness negative trades on the intraday basis, noting that breaching 77.05$ and holding above it will push the price to achieve new gains and test 78.40$ areas mainly.
The expected trading range for today is between 75.00$ support and 78.10$ resistance.
Trend forecast: Bearish
Origin: Economies
