Brent oil price surpassed 79.55 level by today’s open and attempts to hold above it, to stop yesterday’s suggested negative scenario and head towards rising in the upcoming sessions, targeting visiting 81.00 as a next main target.
The price might witness some temporary sideways fluctuation before resuming the suggested bullish wave, and it needs to build support base above 79.55 to support the chances of continuing the rise, as breaking it and holding below it will put the price under the negative pressure again, to head towards testing 77.44 areas initially.
The expected trading range for today is between 78.50 support and 81.40 resistance.
The expected trend for today: Bullish
Origin: Economies
