Brent oil price suffered temporary losses yesterday, as it reached 75.15 areas and bounced bullishly to achieve our first positive target at 77.50 and return to settle above 76.80 level again, which keeps the bullish trend scenario valid and active for the upcoming period, waiting to head towards 78.90 as a next main target.
Therefore, we will continue to suggest the bullish trend for the upcoming sessions, and the price needs to hold above 76.80 to keep the bullish trend active, as breaking it will push the price to turn to decline and head to achieve negative targets that start at 75.45 and extend to 74.30.
The expected trading range for today is between 75.50 support and 78.90 resistance.
The expected trend for today: Bullish
Origin: Economies
