Brent oil price shows new positive trades by today’s open to approach 75.24$ level, which represents 50% Fibonacci correction level for the decline that appears on the chart, waiting to breach this level to open the way to rally towards 76.68$ as a next positive target.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 73.80$ and holding with a daily close below it.
The expected trading range for today is between 73.70$ support and 76.70$ resistance.
Trend forecast: Bullish
Origin: Economies
