Brent oil price opened today’s trading positively to approach our first waited target at 74.70, showing bearish bias now affected by stochastic negativity, and it might head to test the key support 72.75 before turning back to rise again.
In general, we expect the continuation of the domination of the bullish trend in the upcoming period unless breaking 72.75 and holding below it, noting that breaching 74.70 will lead the price to visit 76.00 direct.
The expected trading range for today is between 72.50 support and 75.20 resistance.
The expected trend for today: Bullish
Origin: Economies
