Brent oil price achieves additional gains – Analysis - 05-06-2023
Economies.com
2023-06-05 04:05AM UTC
Brent oil price started today with strong bullish gap that pushed the price to surpass the waited target at 76.80, to reach the next key resistance at 78.90, noticing that the price bounced downwards quickly to settle at the support base formed above 76.80, noting that consolidating above this level will push the price to rise again and head to test 78.90 as a next station.
Therefore, we expect to witness positive trades in the upcoming sessions, noting that breaking 76.80 will stop the positive scenario and push the price to turn to decline.
The expected trading range for today is between 75.50 support and 78.90 resistance.
The expected trend for today: Bullish
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