Midday update for Brent oil 22-05-2023

Brent oil price shows clear positive trades to approach the first key resistance 75.90, which represents the first protection to the continuation of the expected bearish trend for today, as breaching it followed by reaching 76.80 will push the price to achieve additional gains and build new bullish wave on the intraday basis.

Until now, the bearish trend scenario will remain active for today unless breaching 75.90 followed by 76.80 levels and holding above them, reminding you that the waited targets begin by breaking 74.30 to open the way to head towards 72.70.

The expected trading range for today is between 73.40 support and 76.50 resistance.

The expected trend for today: Bearish