Midday update for Brent oil 07-05-2021
Economies.com
2021-05-07 08:50AM UTC
Brent oil price shows new negative trades to test the key support 68.05, and as we mentioned in our recent reports, the price needs to hold above this level to keep the bullish trend active, as breaking it will press on the price to test 67.10 initially, before any new attempt to rise, while the price needs to breach 68.90 to reinforce the chances of resuming the bullish trend that its next main target located at 71.35.
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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