Brent oil price returns to rise clearly after the decline that it witnessed in the previous sessions, reinforcing the expectations of continuing the overall bullish trend, which its targets begin by testing 76.80 level, noting that breaching this level will extend the bullish wave to reach 77.75 followed by 78.90 levels.
The EMA50 continues to support the suggested bullish wave, and the price might witness some temporary sideways fluctuation until it manages to gather positive momentum that assist to resume the expected rise, reminding you that the continuation of the bullish wave depends on the price stability above 74.30.
The expected trading range for today is between 74.50 support and 77.75 resistance.
The expected trend for today: Bullish
Origin: Economies
