Brent oil price resumed its positive trades in the previous sessions to reach few pips away from our waited target at 83.87, showing some temporary bearish bias affected by stochastic negativity, waiting to gather positive momentum that assist to push the price to resume the bullish wave that surpasses the mentioned level to reach 85.55 as a next main station.
Therefore, the positive scenario will remain active for the upcoming period, supported by the EMA50 that carries the price from below, noting that breaking 82.45 will stop the expected rise and force the price to decline to test the key support areas around 81.00 before any new attempt to rise.
The expected trading range for today is between 82.00 support and 84.60 resistance.
The expected trend for today: Bullish
Origin: Economies
