Brent oil price resumed its positive trading by today’s open, to approach our extended waited target at 82.00, and we expect to surpass this level to visit the bullish channel’s resistance, located at 82.70 now.
Therefore, the bullish bias will remain dominant on the intraday and short term basis, supported by the EMA50 that protects trades inside the mentioned channel, noting that the continuation of the bullish wave requires holding above 79.90.
The expected trading range for today is between 80.00 support and 82.70 resistance.
The expected trend for today: Bullish
Origin: Economies
