Brent oil prices continue their downward trajectory, edging towards the crucial support level at 81.00. The ongoing bearish sentiment prompts expectations of further declines in the coming sessions. It is imperative to closely observe the price behavior upon reaching this pivotal level, as it holds significance in determining the subsequent trend.
A breakthrough of the mentioned support at 81.00 would expose the price to additional losses, opening the path for a descent towards 79.10, followed by 77.44 as the next significant support zones. Conversely, consolidation against the current negative pressure could signify a resumption of the bullish wave, influenced by the previously completed double bottom pattern, with a potential revisit of the 83.88 level.
The anticipated trading range for today is projected to fluctuate between the support at 80.70 and resistance at 83.60, aligning with the overall bearish trend prevailing.
