Brent oil price approaches the extended positive target – Analysis – 24/03/2022

forex_news_neftBrent oil price provided strong positive trades yesterday to surpass 115.10 level and approach the extended target at 121.30, showing some bearish bias by today’s open affected by stochastic negativity, and it might test the support base formed above 115.10 before turning back to rise.

Therefore, we expect the continuation of the main bullish trend domination conditioned by the price stability above the mentioned support, noting that breaching 121.30 will extend the bullish wave to target 125.00 areas as a next main station.

The expected trading range for today is between 115.00 support and 122.00 resistance.

The expected trend for today: Bullish

Origin: Economies

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