The price of (Brent) expanded its gains in its last intraday trading, breaching the key resistance level at $66.65, this level represents a neckline of a positive technical formation on the short-term basis, represented by the double bottom pattern, to confirm its momentum to resume the correctional rise on the short-term basis, especially with the continuation of the positive pressure that comes from its trading above EMA50, with the emergence of the positive signals on the (RSI), despite reaching overbought levels.

 

Therefore, our expectations suggest a rise in (Brent) price in its last trading on the intraday levels, if it settles above $66.65, to target the initial resistance levels at $67.60.

 

Expected trading range for today: Between the support at $66.35 and resistance at $67.60.

 

Today’s forecast: Bullish