Brent oil price succeeded to touch our main waited target at 85.30 after the strong bullish rally that it witnessed yesterday, to settle near the minor bullish channel’s resistance that appears on the chart, and it might be forced for some temporary sideways fluctuation until stochastic manages to get rid of its negativity and gather enough positive momentum to push the price to continue rising.
The EMA50 continues to carry the price from below, to keep the main bullish trend valid and active in the upcoming period, conditioned by the price stability above 84.25, as breaking this level will push the price to test 81.00 areas before any new attempt to rise, while the next positive target extends to 88.20.
Expected trading range for today is between 84.00 support and 87.00 resistance.
Expected trend for today: Bullish
Origin: Economies
