Brent Oil Price Analysis
Expected Scenario
Brent oil price rallied upwards strongly yesterday to reach our expected target at 87.67$, and we suggest the continuation of the rise to breach this level and open the way to achieve more positive targets on the intraday and short-term basis, with our next targets at 89.30$ followed by 89.95$.
Therefore, the bullish trend will remain dominant in the upcoming sessions, noting that failing to breach 87.67$ will push the price to rebound bearishly and head to test the bullish channel’s support line around 86.05$ before any new positive attempt.
Expected Trading Range
Between 86.20$ support and 89.30$ resistance.
Trend Forecast: Bullish
Origin: Economies
