Brent oil price rallied upwards strongly after approaching the first waited negative target at 89.20, to breach 90.30 and reach the broken support of the bullish channel, noting that the price begins today with more positivity to attempt to return to this channel, which hints heading to regain the main bullish trend and head to achieve new gains that reach 94.40 followed by 96.05.
Therefore, we expect to witness more rise in the upcoming sessions, supported by the EMA50 that carries the price from below, taking into consideration that failing to consolidate above 92.0 will stop the positive scenario and push the price to decline again.
The expected trading range for today is between 91.00 support and 94.00 resistance.
The expected trend for today: Bullish
Origin: Economies
