Brent oil price attempted to break 85.80$ but it ended yesterday above it, to keep the bullish trend scenario valid and active for the upcoming period, and the price needs to surpass the EMA50 that forms intraday resistance at 86.15$ to reinforce the chances of rallying towards our positive targets that start at 87.05$ and extend to 88.50$.
Therefore, we will continue to suggest the bullish trend conditioned by the price stability above 85.80$, noting that breaking this level will stop the bullish wave and push the price to achieve new bearish correction on the intraday basis.
The expected trading range for today is between 85.00$ support and 87.90$ resistance.
Trend forecast: Bullish
Origin: Economies
