Brent oil price provided additional negative trades yesterday to test the bearish channel’s support line that appears on the chart, noticing that the price begins to rebound bullishly from there, to head towards potential visit to this channel’s resistance around 81.40$.
Therefore, we expect to witness more rise in the upcoming sessions, motivated by stochastic positivity, noting that breaking 79.70$ followed by78.90$ levels will stop the bullish trend and push the price to resume the main bearish trend again.
The expected trading range for today is between 78.60$ support and 81.50$ resistance.
Trend forecast: Bullish
Origin: Economies
