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Brent crude oil opened today with a significant bearish gap, dipping below the $73.90 mark and edging closer to the anticipated downside target of $72.06. Negative indicators from the stochastic oscillator suggest a continued downward trend in the coming sessions, with a break below the current level likely triggering further losses down to $70.90.
The outlook remains bearish for today, though a break back above $73.90 could halt the downward pressure, potentially leading to a recovery toward the $75.36 range.
Today’s anticipated trading range lies between support at $71.00 and resistance at $74.00.
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