Brent oil price rallied upwards strongly yesterday to surpass 74.70 level and achieve our extended target at 75.60, showing new positive trades to head towards achieving more gains in the upcoming period, as we expect to visit 77.80 as a next main target.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, supported by the EMA50 that carries the price from below, noting that the continuation of the bullish wave requires holding above 74.70.
The expected trading range for today is between 74.30 support and 77.00 resistance.
The expected trend for today: Bullish
Origin: Economies
