Brent oil price reached few pips away from our waited target at 73.80$, and decline to test the key support 72.00$, accompanied by stochastic reach to the oversold areas, waiting to motivate the price to resume the bullish correction to breach 73.80$ and open the way to head towards 75.24$ as a next correctional station.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 72.00$ will stop the bullish correction and push the price to resume the main bearish trend again.
The expected trading range for today is between 70.70$ support and 73.70$ resistance.
Trend forecast: Bullish
Origin: Economies
