Brent oil price begins today negatively to press on the intraday bullish channel’s support line, which urges caution from the upcoming trading, as the price needs to consolidate above this level –located now at 42.20- to keep the bullish trend scenario active for the upcoming period, which targets 44.10 followed by 46.50 levels mainly.
On the other hand, we should note that breaking 42.20 will press on the price to achieve more decline and visit 40.23 areas before any new attempt to rise.
The expected trading range for today is between 41.00 support and 44.00 resistance.
The expected trend for today: Bullish
Origin: Economies
