Brent oil price breaches the resistance – Analysis – 18/07/2022

a-1Brent oil price started today with new positivity to breach 102.25 and attempts to hold above it, which leads the price to achieve expected rise in the upcoming sessions, targeting visiting 105.50 followed by 109.60 levels as next main stations.

Therefore, we expect to witness more bullish bias on the intraday basis, taking into consideration that breaking 102.25 and holding below it will stop the positive scenario and press on the price to decline again.

The expected trading range for today is between 101.00 support and 107.00 resistance.

The expected trend for today: Bullish

Origin: Economies

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