Brent oil price approached our waited target at 84.10$ and bounced upwards strongly to breach 85.80$ and settles above it, to stop yesterday’s suggested negative scenario and head towards building bullish wave on the intraday and short-term basis, targeting visiting 87.05$ followed by 88.50$ levels as next positive stations.
Therefore, the bullish bias will be suggested for today, taking into consideration that breaking 85.80$ will reactivate the correctional bearish scenario and put the price under the negative pressure again.
The expected trading range for today is between 85.00$ support and 88.00$ resistance.
Trend forecast: Bullish
Origin: Economies
