Brent oil price’s decline stopped at the bullish channel’s support line, to start attempts to build new bullish wave, supported by stochastic positivity, besides the EMA50 that carries the price from below, waiting to resume the main bullish trend that its next target located at 74.70.
On the other hand, we shoud note that breaking 71.50 will stop the expected rise and press on the price to start bearish correction that targets 70.90 followed by 69.70 areas initially.
The expected trading range for today is between 70.50 support and 73.30 resistance.
The expected trend for today: Bullish
Origin: Economies
