Brent oil price provides new positive trades now, and attempts to breach the bearish channel’s resistance line, which supports the chances of starting bullish correction for the decline that started from 81.36$ areas, noting that the expected targets begin at 72.00$ and extend to 73.79$ after breaching the previous level.
Therefore, the bullish bias will be expected for today, and the price needs to breach 71.45$ to confirm starting the suggested bullish correction, noting that breaking 70.85$ will stop the expected rise and push the price to decline again.
The expected trading range for today is between 70.00$ support and 73.00$ resistance.
Trend forecast: Bullish
Origin: Economies
