Brent oil price managed to achieve our first target at 80.30 and found solid resistance there, to show some bearish bias and test 79.00 barrier, noticing that the price begins to provide new positive trades now, to support the chances of continuing the expected bullish trend on the intraday basis, reminding you that our next target is located at 81.00.
Stochastic provides positive signals that support the expected rise, besides the EMA50 that carries the price from below, noting that breaking 78.70 will put the price under intraday negative pressure that targets testing 77.44 areas before any new attempt to rise.
The expected trading range for today is between 78.00 support and 81.00 resistance.
The expected trend for today: Bullish
Origin: Economies
