Brent oil price provided additional negative trades yesterday to retest the breached resistance of the bearish channel that appears on the chart, noticing that the price consolidated above this support line, located now at 79.10, to start providing new positive trades, supported by stochastic positivity, and the EMA50 that carries the price from below.
Therefore, we expect to witness bullish bias in the upcoming sessions, and the targets begin at 81.00 and extend to 82.35 after surpassing the previous level, taking into consideration that breaking 79.10 will stop the suggested bullish wave and push the price back to the main bearish channel.
The expected trading range for today is between 78.20 support and 80.30 resistance.
The expected trend for today: Bullish
Origin: Economies
