Brent oil price continued to rise to surpass our waited target at 92.00 and breach the main bearish channel’s resistance, to open the way to continue the rise on the intraday basis, affected by the previously completed double bottom pattern, waiting to head towards 95.25 followed by 96.35 levels as next main targets.
Stochastic current negativity might cause some temporary fluctuation before resuming the expected rise, taking into consideration that breaking 91.45 will stop the suggested positive scenario and press on the price to return to the main bearish track again.
The expected trading range for today is between 91.00 support and 94.50 resistance.
The expected trend for today: Bullish
Origin: Economies
