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Brent crude oil prices have recently tested the $73.00 level and found solid support, exhibiting a temporary bullish trend. However, this upward movement is seen as a pause before the price potentially resumes its main bearish trajectory. The next significant target for this downward trend is $71.60.
For the anticipated decline to continue, Brent crude must remain below $74.30. If prices breach this level, they are expected to recover and test the key resistance at $75.80 before any new downward momentum can be established.
Today’s expected trading range for Brent crude oil is between $71.60 (support) and $74.60 (resistance).
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