The Brent oil price has undergone testing at the crucial resistance level of 81.00, yet it remains steadfast below this threshold. This persistence below the key resistance sustains the validity of the bearish trend in the forthcoming period. The primary targets for this bearish scenario encompass 79.00, followed by 77.44 as the subsequent significant levels.
The EMA50 continues to exert negative pressure on the price, reinforcing the likelihood of the envisaged bearish wave. It is imperative for the price to remain below the pivotal 81.00 level to actualize the anticipated targets.
For today’s trading, the anticipated range lies between the support at 78.60 and the resistance at 81.60. Traders and investors are advised to closely monitor these levels as they navigate the current market dynamics.
Expected Trend for Today: Bearish
