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Brent oil prices dropped into negative territory yesterday, testing the $72.06 mark. A break below this level could trigger a continued bearish trend in both the short and intraday outlook. If the price falls further, the next targets are seen at $70.85 and $70.00.
The negative momentum is reinforced by the EMA50, suggesting ongoing downward pressure. However, if the $72.06 level holds as support, it may spark a price recovery, with the next key target at $73.90.
For today, the expected trading range is between support at $70.50 and resistance at $73.50.
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