Brent oil price builds support base – Analysis – 13/09/2021

neft-l2Brent oil price managed to breach 72.75 and build support base above it, as the price leaded on this level to resume its positive trades by today’s open, to support the expectations of achieving more gains in the upcoming period, waiting to visit 74.70 as a next main target.

Therefore, the bullish bias will remain dominant on the intraday basis, supported by the EMA50, noting that holding above 72.75 is important to continue the expected bullish wave.

The expected trading range for today is between 72.00 support and 74.70 resistance.

The expected trend for today: Bullish

Origin: Economies

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