Brent oil price leans on the channel’s support – Analysis - 11-05-2021
Economies.com
2021-05-11 00:13AM UTC
Brent oil price touched the bullish channel’s support line that appears on the chart and bounced bullishly from there, getting continuous positive support by the EMA50, to continue suggesting the bullish trend for the upcoming period, which its next main target located at 71.35.
Holding above 67.55 is important to continue the expected rise, as breaking it will press on the price to turn to decline on the intraday basis and visit 66.10 areas initially before any new attempt to rise.
The expected trading range for today is between 67.00 support and 70.00 resistance.
The expected trend for today: Bullish
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