Brent oil price faced temporary negative pressure yesterday, as it attacked the bullish channel’s support line, but it ended the sessions above this support, to keep the bullish trend scenario active on the intraday and short term basis, waiting to achieve positive targets that start at 86.85 and extend to 89.00 after breaching the previous level.
The EMA50 continues to support the suggested bullish wave, noting that breaking 85.05 will stop the positive scenario and put the price under new negative pressure, to head towards achieving some bearish correction before turning back to rise again.
The expected trading range for today is between 84.50 support and 87.50 resistance.
The expected trend for today: Bullish
Origin: Economies
