Brent oil price rallied upwards strongly by today’s open to succeed touching our waited target at 81.60$, and the way seems open to continue the rise to surpass this level and open the way to achieve more gains on the intraday and short-term basis, to head towards visiting 82.80$ followed by 83.70$ areas as next targets.
The price needs to hold above 80.05$ as a first condition to the continuation of the bullish wave, as breaking it might push the price to achieve some bearish correction and test 78.65$ areas initially before any new attempt to rise.
The expected trading range for today is between 79.80$ support and 83.00$ resistance.
Trend forecast: Bullish
Origin: Economies
