Brent oil price shows some slight bearish bias since yesterday to move around 70.50 barrier now, but we notice that stochastic gains the positive momentum clearly, which supports the chances of bouncing bullishly to resume the main bullish trend, organized inside the main bullish channel that appears on the chart.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the price stability above 70.00, supported by the EMA50, reminding you that our main waited target is located at 72.65.
The expected trading range for today is between 69.50 support and 72.65 resistance.
The expected trend for today: Bullish
Origin: Economies
