Brent oil price fluctuates with slight negativity to test the EMA50 that forms good support at 78.20, noticing that stochastic got rid of its negative momentum to reach the oversold areas, waiting to motivate the price to resume the expected bullish trend on the intraday basis, which targets 81.00 level mainly.
Therefore, the positive scenario will remain valid and active for the upcoming period, noting that breaking 77.44 followed by 76.90 levels will stop the expected rise and push the price to turn to decline.
The expected trading range for today is between 77.40 support and 80.30 resistance.
The expected trend for today: Bullish
Origin: Economies
