Technical analysis: Brent close to target

On June 28, the latest views of Economies analysts today: Brent crude oil prices resumed their decline after a few days of consecutive rises, and approached our waiting negative target of 71.60, which strengthened the expectation of continued bearish trend dominance. Note that a break above this level will push the price to visit the next barrier at 70.00.

Therefore, unless the price rises above 74.30 and closes above it, we continue to recommend a bearish outlook going forward.

Today’s expected trading range is between 71.00 support and 74.00 resistance.