Brent oil price touched our first waited target at 69.65 yesterday and bounced upwards strongly to breach 71.20 and settles above it, which pushes the price to achieve additional expected rises on the intraday basis, waiting to test 72.75 level initially.
Therefore, we expect to witness more rise in the upcoming sessions, supported by moving above the EMA50, noting that the continuation of the bullish wave requires holding above 71.20.
The expected trading range for today is between 70.20 support and 73.00 resistance.
The expected trend for today: Bullish
Origin: Economies
