Brent oil price managed to achieve the first target at 72.75 and breached it strongly to settle above it now, reinforcing the chances of achieving more gains in the upcoming period, as it touched the first extended target at 73.50, waiting to head towards 74.65 as a next positive station.
Therefore, we will continue to suggest the bullish trend for the upcoming period supported by the EMA50, noting that holding above 72.75 represents initial condition to continue the expected rise, as breaking it might press on the price to test 71.20 areas before any new attempt to decline.
The expected trading range for today is between 71.50 support and 74.50 resistance.
The expected trend for today: Bullish
Origin: Economies
