Brent oil price shows positive trades by today’s open, affected by stochastic positivity, noticing that the price closed yesterday below 80.10$ level, to support the chances of continuing the decline on the intraday basis, as it starts bearish correction for the rise measured from 71.23$ to 82.82$, waiting to head towards 78.39$ as a next correctional target.

 

Holding below 80.85$ keeps the negative scenario valid, as breaching it represents the key to return to the bullish track and head to achieve gains that start by visiting the recently recorded high at 82.82$.

 

The expected trading range for today is between 78.60$ support and 81.60$ resistance.

 

Trend forecast: Bearish