Brent oil price resumes the rise – Forecast today – 07-11-2024

rub-l13Brent oil price bounced upwards clearly after testing 73.90$ in the previous sessions, to start attacking 75.36$ and hint heading to continue the rise on the intraday and short-term basis, paving the way to visit 76.84$ as a next positive target.

Therefore, the bullish trend will remain valid and active, and breaching the targeted level will push the price to achieve additional gains that reach 78.66$, while holding above 73.90$ represents the most important condition to the continuation of the expected rise.

The expected trading range for today is between 74.60$ support and 77.60$ resistance.

Trend forecast: Bullish

Origin: Economies

 

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