Brent oil price breached 72.70 level strongly and settled above it, providing more bullish bias to test 74.00 areas, which hints heading to cover the losses that it suffered lately, but we expect to witness sideways trades between 75.20 resistance and 72.70 support until it manages to breach one of these levels to detect the next destination clearly.
Note that the continuation of the rise and surpassing the mentioned resistance will lead the price to achieve additional gains that reach 77.70, while breking the support will press on the price to decline gain and open the way to head towards 69.60 areas again.
The expected trading range for today is between 72.80 support and 75.60 resistance.
The expected trend for today: Sideways
Origin: Economies
