Brent oil price managed to breach 78.50 and close the daily candlestick above it, to reinforce the continuation of the expected bullish trend efficiently for the upcoming period, paving the way to head towards 80.50 as a next main target.
Therefore, the bullish trend will remain suggested on the intraday and short term basis, supported by the EMA50 that carries the price from below, affected by the double bottom pattern that its signs appear on the chart, noting that the consolidation above 78.50 is required to continue the bullish trend, as breaking it will turn the intraday track to decline and head to visit 76.55 areas initially.
The expected trading range for today is between 77.50 support and 80.70 resistance.
The expected trend for today: Bullish
Origin: Economies
