The EMA50 succeeded to protect Brent oil price from suffering more losses, as it formed good support base that pushed the price to rise again, resuming the bullish trend that moves organized inside the bullish channels that appear on the chart.
Therefore, the bullish trend will remain dominant on the intraday and short term basis, noting that our next main target is located at 77.60, while holding above 73.58 represents key condition to continue the expected rise.
Expected trading range for today is between 73.00 support and 76.50 resistance.
Expected trend for today: Bullish
Origin: Economies
