Brent oil price found solid resistance at 95.55, to rebound bearishly andtest the main bullish channel’s support line, as it attempts to consolidate above it, noticing that stochastic provides clear positive signals now, which forms positive motive that we expect to assist to push the price to rise again.
Therefore, the bullish bias will be expected for the upcoming sessions, and the targets begin at 95.55 and extend to 98.50 after surpassing the previous level, noting that breaking 94.10 and holding below it will force the price to acheve more decline and head to test 92.20 level as an additional negative target.
The expected trading range for today is between 93.00 support and 96.00 resistance.
The expected trend for today: Bullish
