Brent oil price fails to confirm the break – Analysis - 13-05-2022
Economies.com
2022-05-13 04:29AM UTC
Brent oil price couldn’t manage to confirm breaking 105.05 level, to rebound upwards strongly and reactivate the positive scenario on the intraday basis, approaching 110.05 level, noting that breaching this level will extend the bullish wave to reach 115.10 as a next positive station.
Therefore, we expect to witness more rise in the upcoming sessions unless breaking 105.05 and holding below it.
The expected trading range for today is between 106.50 support and 111.00 resistance.
The expected trend for today: Bullish
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