Brent oil price traded with strong negativity yesterday to attack 76.47 level and tests the main bullish channel’s support line that appears on the chart, but it returns to trade above the mentioned level, which keeps the chances valid to resume the main bullish trend, which gets positive support by stochastic, waiting to head towards 80.48 as a next main station.
We should note that breaking 76.47 followed by 75.65 levels will stop the expected rise and push the price to return to the correctional bearish track again.
Expected trading range for today is between 75.00 support and 78.50 resistance.
Expected trend for today: Bullish
Origin: Economies
