Brent oil price breached 78.80$ level clearly and closed the daily candlestick above it, to stop the recently suggested negative scenario and head towards building new bullish wave on the intraday basis, targeting testing 80.65$ level as a next main station.
Therefore, the bullish bias will be expected for the upcoming sessions, it might be preceded by some sideways fluctuation affected by stochastic negativity, taking into consideration that breaking 78.80$ will stop the bullish wave and put the price under the negative pressure again.
The expected trading range for today is between 78.20$ support and 81.10$ resistance.
Trend forecast: Bullish
Origin: Economies
