Brent Oil Price Analysis
Expected Scenario
Brent oil price bounced bullishly to start testing the key resistance 82.40$ and hint the attempt to resume the bullish trend again.
We prefer to stay aside until the price confirms its situation according to the mentioned level followed by detecting its next destination clearly.
Breaching 82.40$ will lead the price to activate bullish wave that targets 83.70$ followed by 84.77$ levels as next positive stations.
Consolidating below it will push the price to rebound bearishly and suffer losses that start by visiting 81.25$ and extend to 80.08$.
Expected Trading Range
Between 80.60$ support and 84.00$ resistance.
Trend Forecast: Neutral
Origin: Economies
