Brent oil price rallied upwards strongly after breaching the bullish flag’s resistance line mentioned in our last technical update to surpass the suggested positive target at 81.90$ and open the way to achieve more gains on the intraday and short-term basis, noting that the next positive targets start at 83.20$ and extend to 84.50$.
The EMA50 supports the suggested bullish wave, noting that breaking 81.90$ might push the price to test 80.45$ areas before any new attempt to rise.
The expected trading range for today is between 81.20$ support and 84.20$ resistance.
Trend forecast: Bullish
Origin: Economies
