Brent oil price found solid support at 101.00, to rebound bullishly by today’s open and head to test 105.05 level, noting that the consolidation below this level will keep the negative scenario active for the upcoming period, which targets 98.85 mainly.
On the other hand, we should note that breaching 105.05 and holding above it will stop the expected decline and lead the price to turn to rise and achieve positive targets that start at 107.15 and extend to 110.05.
The expected trading range for today is between 102.00 support and 107.00 resistance.
Origin: Economies
