Brent oil price declined sharply on last Friday to break 81.30 and approach our waited negative target at 79.20, and we expect the continuation of the bearish bias in the upcoming sessions to achieve more negative targets that extend to 78.30 followed by 77.45.
Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that breaching 81.30 will stop the current decline and lead the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 78.30 support and 81.30 resistance.
The expected trend for today: Bearish