Brent oil price achieves more gains – Analysis – 18/04/2022

a-1Brent oil price traded with strong positivity to succeed to achieve our waited target at 110.05, noticing that the price breached this level and closed the daily candlestick above it, to support the continuation of the bullish trend on the intraday and short term basis, paving the way to head towards 115.10 as a next target.

Therefore, the bullish trend scenario will remain valid and active conditioned by the price stability above 110.05.

The expected trading range for today is between 109.50 support and 115.00 resistance.

The expected trend for today: Bullish

Origin: Economies

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