Brent oil price ended yesterday with strong positivity to breach 76.55 and reach 78.50 areas, paving the way to achieve expected bullish correction in the upcoming sessions, noting that breaching the last level will push the price to 80.50 direct.
By taking a deeper look at the chart, we find that the price completed forming double bottom pattern that supports the chances of surpassing the current resistance and head towards the waited positive targets, to suggest the continuation of the bullish trend domination in the upcoming sessions conditioned by the price stability above 76.55, as breaking it will stop the positive scenario and push the price to return to the main bearish track again.
The expected trading range for today is between 76.55 support and 80.00 resistance.
The expected trend for today: Bullish
Origin: Economies
