Brent oil price broke 72.00 level strongly to reach the thresholds of the extended negative target at 70.00, and the way seems open to continue the decline and suffer additional losses that reach 68.50 as a next main station.
Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the EMA50 that presses negatively on the price, taking into consideration that breaching 72.00 and holding above it will push the price to attempt to rise and cover some losses that it suffered in the previous sessions.
The expected trading range for today is between 70.00 support and 72.00 resistance.
The expected trend for today: Bearish