Brent oil price bounced downwards strongly after approaching the waited target at 76.80, to reach the thresholds of the key support 74.30, noticing that the price begins today with bullish bias that hints heading to resume the expected bullish trend for the upcoming period, motivated by stochastic positivity that appears on the four hours’ time frame.
Therefore, we expect to witness positive trades in the upcoming sessions, and the targets begin at 76.80 and extend to 77.75 after surpassing the previous level, noting that breaking 74.30 will stop the suggested bullish wave and push the price to turn to decline.
The expected trading range for today is between 73.70 support and 76.80 resistance.
The expected trend for today: Bullish
Origin: Economies
