Brent oil price under the negative pressure – Forecast today - 10-04-2024

Brent oil price traded with clear negativity in the previous sessions to break 90.10$ and settles below it, to fall under expected negative pressure in the upcoming sessions, especially after the formation of double top pattern that its signs appear on the chart, thus, the bearish bias will be suggested on the intraday basis, which targets testing 88.05$ as a next main station.

Note that breaking 89.60$ will reinforce the expectations to decline and provide negative motive that push the price to achieve the target direct, while breaching 90.95$ will stop the negative current negative pressure and push the price to recover again.

The expected trading range for today is between 88.00$ support and 91.00$ resistance.

Trend forecast: Bearish