Midday update for Brent oil 31-03-2023

Brent oil price resumes its positive trading now to move away from 78.50 level, to support the continuation of the expected bullish trend scenario for today, waiting to visit 61.8% Fibonacci correction level at 80.50 as a next main target.

The positive effect of the double bottom pattern still active, and supports the expectations of achieving more gains in the upcoming period, noting that it is important to hold above 78.50 to guarantee the continuation of the suggested bullish wave.

The expected trading range for today is between 77.30 support and 80.50 resistance.

The expected trend for today: Bullish