Brent oil price resumes the bullish track – Analysis – 04/05/2021

brent_1Brent oil price resumed its positive trading clearly to approach 68.00 barrier, which support the continuation of the bullish trend scenario that moves organized inside the bullish channel that appears on the chart, waiting to visit 69.00 followed by 70.00 levels that represent our next main targets.

The EMA50 keeps supporting the suggested bullish wave, which will remain valid unless breaking 66.00 and holding below it.

The expected trading range for today is between 66.40 support and 69.00 resistance.

The expected trend for today: Bullish

Origin: Economies

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