Brent oil price faced clear negative pressure yesterday to test 71.16$ level, noticing that the price returns to recover again and head towards achieving expected gains on the intraday basis, targeting testing 73.57$ as a first correctional target.
Therefore, the bullish bias will be suggested for today, noting that breaking 71.16$ will stop the correctional bullish scenario and push the price to suffer more losses on the short-term and medium term basis.
The expected trading range for today is between 71.00$ support and 74.00$ resistance.
Trend forecast: Bullish
Origin: Economies
