Brent oil price shows calm negative trades since yesterday to reach the EMA50, accompanied by witnessing clear oversold signals through stochastic, which supports the chances of bouncing bullishly to resume the expected bullish trend on the intraday and short term basis, which its next main target located at 72.65.
Therefore, we will keep our positive overview for the upcoming period conditioned by the price stability above 66.50, as breaking this level might force the price to suffer more losses and visit 63.95 areas before any new attempt to rise.
The expected trading range for today is between 66.50 support and 70.00 resistance.
The expected trend for today: Bullish
Origin: Economies
