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Brent oil prices exhibited clear negativity in recent trading, successfully hitting the awaited target at 77.44. The ongoing bearish outlook suggests the possibility of extending losses towards additional targets around the 76.00 level.
The bearish momentum is reinforced by the support of the EMA50, emphasizing the continuation of the suggested downward trajectory. It is important to monitor the 77.44 level closely, as a failure to breach it could prompt the market to attempt a bullish reversal, targeting gains starting at 79.20 and potentially reaching 81.00.
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For today, the expected trading range is anticipated to be between the support at 75.80 and the resistance at 78.70.
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Expected Trend for Today: Bearish
