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Brent oil prices opened today with clear negativity, attempting to break the $81.38 level. This move reinforces the expectations of a continued bearish trend on both intraday and short-term bases, with the next main target set at $79.70.
The bearish channel is organizing the suggested downward wave, further supported by the negative overlap in stochastic indicators. However, if the price fails to consolidate below the $81.38 level, it might experience temporary gains, potentially testing the $82.74 level before resuming its decline.
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The expected trading range for today is between the support level of $79.40 and the resistance level of $82.40.
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Trend Forecast: Bearish
