Brent oil prices have undergone a notable negative shift, notably confirming the breach of the critical level at 81.00. The price descended to the 79.00$ mark, signaling the potential for further declines with the next target set at 77.44 as the subsequent negative station.
The prevailing market sentiment suggests a continuation of the bearish trend in the upcoming sessions, supported by the downward pressure exerted by the EMA50. It is crucial for market observers to monitor the 81.00 level closely, as a successful breach of this point could halt the current bearish trend, potentially prompting a reevaluation for a return to the bullish trajectory.
For today’s trading activities, the expected range is between the support level at 77.60 and the resistance level at 80.70.
In conclusion, the projected trend for today is bearish, reflecting the existing negative momentum in Brent oil prices. Traders are advised to stay attentive to potential market reversals, especially around the critical levels mentioned.
