3
Brent crude oil prices surged to $73.40 before retreating to $72.06, as bearish momentum takes hold. Technical indicators are showing negative signals, suggesting that the price may continue to decline in the coming sessions. A break below the $72.06 mark would likely pave the way for a further drop, with the next target set at $70.65.
The prevailing bearish trend is expected to persist, although if prices manage to break above $72.75, there could be a potential reversal, sending the price up to $73.90 before any further downside pressure emerges.
The anticipated trading range for today is between a support level of $70.50 and resistance at $73.50.
Related topic:
