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Brent oil prices are currently attempting to breach the $73.90 level, prompting caution among traders. A confirmed breach of this resistance could lead to further gains, allowing the price to test the significant resistance level at $75.36 before any new downward movement.
To ensure the continuation of the expected bearish trend in the near term, the price must consolidate below $73.90, with the next target set at $72.06.
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For today, the anticipated trading range is between the support level at $71.80 and the resistance level at $74.80.
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Trend Forecast: Bearish
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