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Brent oil prices are currently testing the EMA50, with stochastic indicators signaling negativity on the four-hour time frame. This suggests a potential resumption of bearish trades. It’s important to note our downside targets, commencing with breaking the 81.00 level, which would confirm a downward move towards 77.44.
Sustaining levels below 82.10 is crucial for the anticipated decline. Any breach above this level may lead to a test of the critical resistance at 83.87 before a renewed attempt at a decline.
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The expected trading range for today is anticipated between the support at 80.00 and resistance at 82.80.
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Today’s Trend Projection: Bearish
