Brent Oil Price Analysis
Expected Scenario
Brent oil price leaned on the breached resistance of the bearish channel that appears on the chart and bounced bullishly from there, as it forms good support there, accompanied by witnessing clear positive signals through stochastic, which supports the chances of building bullish wave on the intraday basis, its targets begin by surpassing 80.08$ to confirm heading towards 82.40$ as a next positive station.
Therefore, we expect to witness more rise in the upcoming sessions, noting that breaking 79.40$ will stop the positive scenario and push the price to return to the bearish channel again.
Expected Trading Range
Between 78.80$ support and 81.80$ resistance.
Origin: Economies
