Brent oil price traded with clear negativity yesterday to break 71.70 level and touched the intraday bullish channel’s support line, noticing that the price settles above this support and hints the beginning of bullish rebound now, which makes us suggest witnessing positive trades in the upcoming sessions, waiting to visit 73.65 followed by 75.60 levels as next main stations.
Stochastic shows oversold signals to support the positive overview, noting that breaking 70.65 followed by 69.62 levels will stop the expected rise and turn the intraday and short term track to decline.
The expected trading range for today is between 69.60 support and 73.00 resistance.
The expected trend for today: Bullish
Origin: Economies
