Brent oil price found difficulty to surpass the resistance barrier formed at the previously broken support of the bullish channel that appears on the chart, to show some bearish bias again and fluctuates inside the symmetrical triangle again, noticing that the EMA50 provides the positive support to the price, while stochastic reaches the thresholds of the oversold areas.
Therefore, we believe that the chances are valid to resume the expected bullish trend on the intraday and short term basis, which targets 68.00 followed by 72.65 levels as next main stations, while its continuation conditions holding above 65.00.
The expected trading range for today is between 65.00 support and 68.00 resistance.
The expected trend for today: Bullish
Origin: Economies
