Brent oil price shows some bearish bias now affected by stochastic negativity, waiting to get enough positive momentum to push the price to continue the main bullish trend, organized inside the bullish channels that appear on the chart.
Until now, the bullish trend scenario still active on the intraday and short term basis conditioned by the price stability above 70.80, supported by the EMA50 that carries the price from below, noting that our waited targets begin by testing 74.00 to open the way to head towards 77.20 as a next main station.
Expected trading range for today is between 70.80 support and 74.20 resistance.
Expected trend for today: Bullish
Origin: Economies
