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Brent crude oil commenced today’s trading session with a bearish tone, testing the $79.70 level and signaling potential further declines in the short-term. Analysts anticipate a continuation of the current bearish trend, with potential targets at $78.00 followed by $76.95.
The ongoing bearish channel is expected to guide price movements, emphasizing that any consolidation around the $79.70 level amidst current downward pressure could prompt a recovery attempt. Intraday gains might target the $81.40 mark before potentially revisiting lower levels.
Today’s anticipated trading range spans from $77.80 support to $80.80 resistance, highlighting key levels to watch as market sentiment unfolds.
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