In recent trading sessions, Brent oil experienced mixed movements, initially approaching the $80.00 threshold before retracing bearishly to settle near the $78.00 level. This development reinforces the continuity of the bearish trend in the near future, with an expectation to test the support at 77.44. A breakthrough below this level is likely to initiate additional losses, extending towards the 76.00 regions.
Conversely, it’s essential to highlight that a successful breach above 79.20 could lead to intraday gains, propelling the price towards the pivotal resistance at 81.00 before any potential resumption of the bearish trend.
For today’s trading, the projected range is between the support at 76.50 and resistance at 79.50.
Anticipated Trend for Today: Bearish
