Brent oil price succeeded to breach the neckline of the double bottom pattern and settled above it, to activate the positive effect of this pattern, which supports the expectations of continuing the bullish trend on the intraday and short term basis, which targets testing 65.92 level initially, noting that the positive pattern’s targets extend to 68.00.
Therefore, we are waiting for more rise supported by the EMA50, noting that breaking 64.60 will press on the price to test 62.92 areas again before any new attempt to rise.
The expected trading range for today is between 64.00 support and 67.00 resistance.
The expected trend for today: Bullish
Origin: Economies
