Brent oil price succeeded to achieve our new waited target at 77.18$, and we suggest surpassing this level to confirm extending the bearish wave and achieve additional negative targets that reach 76.25$.

Therefore, we are waiting for more expected decline in the upcoming sessions, organized inside the bearish channel that appears on the chart, noting that the consolidation of 77.18$ level will push the price to start recovery attempts and head to target 80.08$ areas on the near-term basis.

The expected trading range for today is between 76.25$ support and 79.30$ resistance.

Trend forecast: Bearish