Brent crude oil prices have recently displayed a downward trend following a temporary increase observed in previous sessions. This decline is expected to persist today, with initial targets set at breaking through the $73.90 mark. A successful breach at this level would pave the way for a potential drop to $72.06, which is identified as the next key support level.
Technical indicators, particularly the stochastic oscillator, are signaling a negative crossover, reinforcing the expectation of further declines throughout the day. It is important to note that the bearish trend remains intact as long as prices stay below the $75.36 and $75.60 thresholds.
For today, the anticipated trading range is between a support level of $73.20 and a resistance level of $76.20.
Trend Outlook: Bearish
