Brent oil price returns to the channel – Analysis – 22/09/2021

neft-1Brent oil price begins today’s trading with clear bullish rally after turning back to the bullish channel that appears on the chart, to keep the main bullish trend scenario valid and active for the upcoming period, supported by the EMA50, waiting to visit 77.80 as a next main target.

Note that the continuation of the bullish wave requires holding above 74.70 and 74.05 levels, as breaking them will put the price under negative pressure that its targets begin by testing 72.75 areas.

The expected trading range for today is between 74.00 support and 77.00 resistance.

The expected trend for today: Bullish

Origin: Economies

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