Brent oil price rallied upwards strongly yesterday to breach 74.00 level and attempts to confirm holding above the main bullish channel’s support line that appears on the chart, which turns the intraday and short term track to rise, targeting visiting 76.47 level initially.
Therefore, the bullish trend will be suggested in the upcoming sessions supported by moving above the EMA50, noting that breaking 74.00 will stop the suggested rise and put the price under the negative pressure again.
Expected trading range for today is between 73.00 support and 76.47 resistance.
Expected trend for today: Bullish
Origin: Economies
