Technical analysis: Brent oil prices rebound strongly

On June 26, Economies’ analysts’ latest opinion today: Brent crude oil prices rebounded strongly after approaching 72.00, testing and stabilizing at the key resistance level of 74.30, noting that prices opened lower today, supporting what we mentioned in the report earlier Bearish trend view with its next major target reaching 71.60.

Therefore, driven by the bearish signal provided by Stochastic, we wait for a decline in the next few sessions, with the caveat that a break of 74.30 will stop the decline and lead to higher prices.

Today’s expected trading range is between 72.00 support and 75.10 resistance.