Brent oil price continued to decline to approach 74.30 support line, noticing that the price begins today with bullish bias, motivated by stochastic positivity, waiting for more rise to surpass the EMA50 and achieve our expected target at 76.80.
Therefore, the bullish trend scenario will remain valid and active for the upcoming period, noting that breaking 74.30 will stop the expected bullish wave and push the price to decline again, to open the way to visit 72.20 followed by 70.15 levels mainly.
The expected trading range for today is between 73.80 support and 76.80 resistance.
The expected trend for today: Bullish
Origin: Economies
