Brent oil price traded with clear positivity in the previous sessions to breach 84.33 and settles above it, and by taking a deeper look at the chart, we find that the price completed forming double bottom pattern that supports the chances of achieving more rise in the upcoming sessions, to confirm stopping the recently suggested negative scenario and head to resume the bullish trend again, noting that the expected targets begin at 86.75 and extend to 88.20.
Stochastic current negativity might cause some temporary sideways fluctuation before resuming the positive trades, taking into consideration that the continuation of the bullish wave requires holding above 84.33.
The expected trading range for today is between 84.33 support and 87.40 resistance.
The expected trend for today: Bullish
Origin: Economies
