Brent oil price breached 78.80$ level strongly and settled above it, to head towards achieving expected gains on the intraday basis, on its way to test 80.65$ initially, noting that breaching this level will push the price towards 82.15$ as a next positive station.
Moving above the EMA50 supports the suggested positive scenario, while breaking 78.80$ an holding below it will put the price under new negative pressure that targets 77.60$ followed by 75.80$ areas on the near-term basis.
The expected trading range for today is between 78.50$ support and 81.50$ resistance.
Trend forecast: Bullish
Origin: Economies
