Brent oil price hits the first target – Analysis - 05-05-2021

2021-05-05 00:56:56 GMT (Economies.com)
 

Brent oil price succeeded to achieve our first target at 69.00 and breached it to confirm extending the bullish wave on the intraday and short term basis, noting that our next target extend to 70.00 followed by 71.35.

 

The bullish channel continues to organize the suggested bullish wave, which will remain valid and active unless breaking 68.05 and holding below it.

 

The expected trading range for today is between 68.00 support and 71.00 resistance.

 

The expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.2171
-0.0002
0.0168%
1.4152
0.0016
0.1107%
Tadawul
10322.68
86.96
0.85%
27.493
-0.311
1.120%
64.911
-0.481
0.736%
68.46
0.13
0.19%
1832.985
-11.240
0.610%
 
 
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