Brent oil price succeeded to acheive our first waited target at 76.00 and rebounds bearishly from there to head towards potential test ot the key support base 74.70, affected by stochastic negativity, while the EMA50 continues to provide the positive support to the price, to keep the chances valid to continue the main bullish trend, which its next target located at 77.80.
Therefore, we will keep our bullish overview for the upcoming period, noting that breaking 74.70 will stop the positive scenario and put the price under the correctional bearish track again.
The expected trading range for today is between 74.30 support and 77.00 resistance.
The expected trend for today: Bullish
Origin: Economies
