Brent oil price touched our first suggested negative target at 103.00 and bounced upwards strongly, to settle above 107.00 barrier, to hint heading to achieve more expected gains in the upcoming sessions, targeting testing 110.05 as a next station.
Therefore, we expect to witness positive trades on the intraday basis, noting that breaching the targeted level will extend the bullish wave to reach 115.10, while the expected rise will remain valid unless breaking 105.05 and holding below it.
The expected trading range for today is between 104.00 support and 110.05 resistance.
The expected trend for today: Bearish
Origin: Economies
