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Brent oil continued its decline yesterday, reaching the $80.70 level. However, it closed the daily candlestick above $81.38. We anticipate resuming negative trades to break this level and target further declines, with the next goal set at $79.70.
The bearish channel continues to organize the anticipated downward trend, supported by the EMA50. It’s important to note that the continuation of this bearish wave requires maintaining a position below $82.74.
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For today, the expected trading range is between the support level of $79.75 and the resistance level of $82.75.
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Trend Forecast: Bearish
