Brent Oil Price Analysis
Expected Scenario
Brent oil price succeeded to achieve our waited negative target at 89.00$ and bounced upwards strongly from there, to resume the bullish wave within the bullish channel that appears on the chart, expecting to achieve positive targets that start at 93.40$ and extend to 94.35$ after surpassing the previous level.
Therefore, we are waiting for more expected rise in the upcoming sessions, supported by stochastic positivity, noting that breaking 89.20$ will stop the bullish trend and push the price to start bearish correction on the intraday basis.
Expected Outcome
The expected trading range for today is between 89.00$ support and 92.80$ resistance.
Trend Forecast: Bullish
Origin: Economies
