Brent oil price shows some bearish bias after approaching the broken support of the bullish channel that appears on the chart, noticing that stochastic reached the oversold areas, to provide positive motive that we are waiting to assist to push the price to resume the expected bullish wave on the intraday and short term basis.
Therefore, the bullish trend scenario will remain valid conditioned by the price stability above 66.50 level, noting that breaching 68.45 will ease the mission of heading towards our next main target that reaches 72.65.
The expected trading range for today is between 66.40 support and 70.00 resistance.
The expected trend for today: Bullish
Origin: Economies
