Brent oil price leans on the channel’s support line – Analysis - 18-09-2023
2023-09-18 04:02AM UTC

Brent oil price tested the bullish channel’s support line and bounced bullishly from there, to keep the bullish trend scenario valid and active on the intraday and short-term basis, waiting to test 95.40 level as a first station, noting that breaching this level will push the price towards our next main target at 96.80.


The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 93.70 and holding with a daily close below it.



The expected trading range for today is between 93.30 support and 96.30 resistance.


The expected trend for today: Bullish

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