Brent oil price returns to the bullish channel – Analysis - 12-01-2022

Brent oil price provided more positive trades to settle above 83.00$ barrier, which supports the continuation of the bullish trend expectations efficiently on the intraday and short term basis, waiting to test 84.55 as a next target, noting that breaching this level will push the price to 85.80 as a next station.

Therefore, the bullish trend scenario will remain dominant in the upcoming sessions, noting that breaking 82.80 might press on the price to test 80.80 areas before any new attempt to rise.

The expected trading range for today is between 82.00 support and 85.00 resistance.

The expected trend for today: Bullish