Brent oil price returns to rise after hitting the intraday bullish channel’s support yesterday, to make a new test to 62.50 level, which requires being aware from the upcoming trading, where the continuation of the rise and surpassing this level will open the way towards positive targets that begin at 64.00 and extend to 65.40.
Until now, the bearish trend scenario will remain valid if the price settled below 62.50, supported by stochastic negativity that appears clearly on the four hours time frame, pointing that our main targets begin at 60.70 and extend to 59.60.
The expected trading range for today is between 60.50 support and 63.20 resistance.
The expected trend for today: Bearish
Origin: Economies
