Brent oil price returned to rise to breach 75.60 level and settle above it, to stop the negative scenario and head towards achieving expected gains on the intraday basis, targeting testing 77.44 mainly.
It is important to monitor the price when reaching the targeted level, as breaching it represents the key to continue rising and achieve additional gains that reach 79.20 as a next positive station, while consolidating against the current bullish wave will push the price to resume the main bearish track to head towards 72.70 areas on the near-term basis.
The expected trading range for today is between 75.10 support and 78.00 resistance.
The expected trend for today: Bullish
Origin: Economies
