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Brent oil price begins to recover – Analysis - 13-03-2020
Brent oil price showed additional decline yesterday to touch 33.56, noticing that the price begins today with strong rise to surpass the correctional bearish channel’s resistance and settles above 35.00$ barrier now, which supports the chances of resuming the intraday bullish trend, which its main targets located at 38.00 and extend to 41.17.
Therefore, the bullish trend will be expected for today, noting that breaking 33.56 will stop the expected rise and presses on the price to return to the main bearish track again.
The expected trading range for today is between 33.50 support and 38.00 resistance.
The expected trend for today: Bullish
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