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[Brent crude oil prices may maintain a bearish trend]
Market analysis showswelcomebonusgamesBrent crude oil prices have reached key bearish resistance level of 82welcomebonusgames.45 USD/barrelwelcomebonusgames, and shows further downward momentum. Analysts pointed out that prices could drop to 80welcomebonusgamesUS$.08/barrel, or a Fibonacci correction level of 61.8%, indicates that the bearish trend will continue in the short term.
Despite the possibility of an intraday rebound to US$84.05/barrel, analysts believe the market may encounter pressure near the resistance level of US$83.60/barrel and then try to pull back towards a lower US$82.45/barrel level. The overall market expects that price fluctuations of Brent crude oil will be limited by the support level of US$80.60/barrel and the resistance level of US$83.60/barrel.