Brent oil price approached our first waited negative target at 70.40 and bounced upwards strongly after leaning on the intraday bullish channel’s support line that appears on the chart, to resume the main bullish track and head towards achieving more expected rise on the intraday and short term basis, noting that breaching 72.70 will push the price to 74.70 as a next main target.
Therefore, the bullish trend will be suggested in the upcoming sessions unless breaking 72.20 level, as breaking it will press on the price to test 71.10 areas initially before any new attempt to rise.
The expected trading range for today is between 71.50 support and 74.50 resistance.
The expected trend for today: Bullish
Origin: Economies
