Brent oil price rallied upwards clearly to breach the bearish channel’s resistance and touch our waited target at 81.00, facing solid resistance there, waiting to confirm breaching this level and open the way to achieve additional gains that start at 82.35 and extend to 83.87.
Therefore, the bullish trend will remain suggested in the upcoming sessions, supported by the EMA50 that carries the price from below, taking into consideration that failing to breach 81.00 will push the price to rebound bearishly and head towards testing 79.35 initially.
The expected trading range for today is between 79.35 support and 82.50 resistance.
The expected trend for today: Bullish
Origin: Economies
