Brent oil price fluctuates around 71.00 level now, noticing that stochastic provides positive overlapping signal now, waiting to motivate the price to resume the expected bullish trend on the intraday and short term basis, organized inside the bullish channel that appears on the chart, supported by the EMA50 that keeps carrying the price from below.
Therefore, we are waiting for positive trades in the upcoming sessions conditioned by the price stability above 70.00, noting that the next target is located at 72.65.
The expected trading range for today is between 70.00 support and 72.65 resistance.
The expected trend for today: Bullish
Origin: Economies
