Brent oil price bounced upwards strongly in the previous sessions, as it leaned on 81.00 level and rallied bullishly to succeed touching our waited target at 83.87, noticing that the price is facing solid resistance there, and might show some temporary sideways fluctuation affected by stochastic negativity, waiting to gather positive momentum that assist to push the price to surpass this level and open the way to head towards 86.74 that represents our next main target.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that failing to surpass 83.87 will force the price to rebound bearishly and head to test 81.00 areas again before any new positive attempt.
The expected trading range for today is between 82.30 support and 85.20 resistance.
The expected trend for today: Bullish
