Brent oil price rallied upwards strongly by today’s open to succeed reaching our waited target at 79.50, showing some slight bearish bias now affected by stochastic negativity, while the overall bullish trend still valid for the upcoming period, expecting to head towards 82.20 as a next main target.
Therefore, the bullish bias will remain suggested conditioned by the price stability above 77.80, as breaking this level might press on the price to test 76.25 areas before any new attempt to rise.
The expected trading range for today is between 77.50 support and 80.60 resistance.
The expected trend for today: Bullish
Origin: Economies
