Brent oil price needs a positive motive – Analysis - 07-05-2021
Economies.com
2021-05-07 00:11AM UTC
Brent oil price traded negatively yesterday to test the key support 68.05 and keeps its stability above it until now, getting continuous positive support by the EMA50, to keep the bullish trend scenario valid for the upcoming period, organized inside the bullish channel that appears on the chart, reminding you that our next target extends to 71.35.
Note that breaching 68.90 will ease the mission of rallying towards our waited positive target.
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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