Brent oil price touches the target – Analysis - 23-02-2021

Brent oil price opened today’s trading with strong rise to succeed achieving our waited target at 66.00, noticing that the price attacks this level and attempts to confirm breaching it, which supports the chances of achieving more rise in the upcoming period, organized inside the bullish channels that appear on the chart, noting that our next target is located at 67.45.

Stochastic current negativity might cause some temporary sideways fluctuation before resuming the rise again, noting that holding above 64.60 is important to achieve the suggested targets.

The expected trading range for today is between 65.00 support and 68.00 resistance.

The expected trend for today: Bullish