Brent oil price begins today with clear negativity, as it showed bearish gap to trade below 78.66$, but we notice that the price leans on the intraday bullish trend line that appears on the chart and attempts to recover now, which encourages us to suggest the rise in the upcoming sessions to head towards achieving gains that start at 80.00$ and extend to 81.61$.
Therefore, the bullish bias will be expected for today, supported by the EMA50 that carries the price from below, noting that breaking 77.80$ followed by 76.84$ levels will stop the bullish trend and push the price to turn to decline.
The expected trading range for today is between 77.20$ support and 80.20$ resistance.
Trend forecast: Bullish
Origin: Economies
