Midday update for Brent oil 03-04-2020

Brent oil price achieved new strong gains to reach 33.00$ barrier, as it leaned on the intraday bullish channel’s support line that its signs appear on the chart, on its way to achieve more expected rise in the upcoming period, as the next positive target reaches 36.00 areas.

Therefore, the bullish trend will be expected on the intraday and short term basis, taking into consideration that breaking 30.90 followed by 29.90 levels will stop the expected rise and put the price under the negative pressure again.

The expected trading range for today is between 31.00 support and 35.00 resistance.

The expected trend for today: Bullish