Brent Oil Price Analysis
Expected Scenario
Brent oil price breached 87.67$ clearly and ended yesterday above it, which supports the expectations of continuing the bullish trend in the upcoming period, paving the way to achieve our next positive targets that start at 89.30$ followed by 89.95$.
The bullish channel supports the continuation of the suggested bullish wave, noting that breaking this channel’s support line at 87.25$ might force the price to turn to decline on the intraday basis and achieve negative targets that start at 86.30$ and might extend to 84.77$ before turning back to rise again.
Expected Trading Range
Between 86.50$ support and 89.50$ resistance.
Trend Forecast: Bullish
Origin: Economies
