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Brent crude oil prices have continued their downward trajectory after breaching the $80.65 support level. The price has now approached the $78.80 mark, with indications suggesting a potential further decline in the near term. If the price falls below this current level, it could pave the way for a drop to $77.65, followed by $75.80 as the next bearish targets.
Given these conditions, a bearish outlook is anticipated for the short term. However, should Brent prices rebound and move above $80.65, the positive scenario would be reinstated, potentially driving prices towards $82.15.
For today, the anticipated trading range is projected to be between $77.75 for support and $80.75 for resistance.
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