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Brent oil price approaches the target – Analysis - 25-01-2024
Brent oil price resumed its positive trades to approach our waited target at 81.00, getting continuous positive support by the EMA50, which supports the chances of surpassing this level and open the way to achieve additional rise that its next target reaches 83.87 mainly.
Therefore, we will continue to suggest the bullish trend for the upcoming period, taking into consideration that the consolidation of 81.00 level against the current bullish wave will push the price to rebound bearishly to head towards testing 77.44 areas before any new attempt to rise.
The expected trading range for today is between 79.00 support and 82.00 resistance.
The expected trend for today: Bullish
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