Brent oil price rallied upwards strongly yesterday to breach the resistance line mentioned in our previous reports and settles above 79.00 barrier now, which supports the expectations of continuing the bullish trend on the intraday and short term basis, waiting to visit 80.48 level that represents our next main target.
Breaching the targeted level will extend Bren oil price gains to reach 82.93, noting that breaking 78.20 will push the price to test 76.47 – 76.00 areas again before any new attempt to rise.
Expected trading range for today is between 78.00 support and 81.00 resistance.
Expected trend for today: Bullish
Origin: Economies
