Brent oil price begins positively – Analysis – 10/05/2021

a-1Brent oil price opens today with new rise to reach the thresholds of 69.00 level, and managed to surpass minor resistance to reinforce the expectations of continuing the main bullish trend, as we believe that the way is open to head towards 71.35 as a next main target.

The EMA50 continues to support the expected rise, which will remain valid conditioned by the price stability above 67.40.

The expected trading range for today is between 67.40 support and 70.40 resistance.

The expected trend for today: Bullish

Origin: Economies

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