Brent oil price rallied upwards strongly yesterday to surpass our waited target at 86.74 and close the daily candlestick above it, reinforcing the expectations of extending the bullish wave and head to visit 88.40 level that represents our next target, to keep the bullish trend dominant in the upcoming sessions.
Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise, noting that breaking 86.74 will stop the bullish wave and push the price to achieve some bearish correction before turning back to rise again.
The expected trading range for today is between 86.00 support and 88.80 resistance.
Trend forecast: Bullish
Origin: Economies
