Brent oil price managed to breach 63.10 level and hold with a daily close above it, to activate the positive effect of the inverted head and shoulders’ pattern, and the price needs to breach 63.95 level to confirm opening the way to head towards our positive targets that we expect to reach 68.00 followed by 72.65.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, noting that holding above 63.10 represents the first condition to continue the suggested bullish wave.
The expected trading range for today is between 63.00 support and 66.00 resistance.
The expected trend for today: Bullish
Origin: Economies
