Technical analysis: Brent oil price awaits further gains

June 16, Economies’ analysts’ latest opinion today: Brent crude oil prices rose strongly, breaking through 74.30 and reaching the 75.50 area, stopping yesterday’s negative forecast and moving towards a new upside target in future trading, down A target is at 76.80.

We therefore expect to see more gains on an intraday basis, with the caveat that a break above the target level will extend the bullish wave to reach 77.75 as the next aggressive target, while the bullish trend will remain valid barring a break below 74.30 and stay below that level.

Today’s expected trading range is between 74.20 support and 77.30 resistance.