Brent oil price achieved additional decline yesterday to touch the main bullish channel’s support line and leaded on this support to rebound bullishly and start new bullish wave, as it trades normally inside this channel, on its way to achieve new gains that we expect to reach 103.00.
Therefore, the overall positive scenario will remain suggested for the upcoming period, taking into consideration that breaking 95.25 will push the price out of the bullish channel to start bearish correction on the intraday and short term basis.
The expected trading range for today is between 96.00 support and 102.00 resistance.
The expected trend for today: Bullish
