Brent oil price reaches the second target – Analysis - 06-05-2021
Economies.com
2021-05-06 00:46AM UTC
Brent oil price reached few pips away from our second waited target at 70.00, to rebound bearishly and settle around 68.50 now, and as we mentioned in our recent reports, the price needs to consolidate above 68.05 to keep the positive scenario valid for the upcoming period, as breaking it will press on the price to visit 66.65 level before any new attempt to rise.
The EMA50 continues to support the suggested bullish wave, which its next main target located at 71.35.
The expected trading range for today is between 67.50 support and 70.00 resistance.
The expected trend for today: Bullish
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