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Brent oil price returns to the bullish channel – Analysis – 24/12/2020

Brent oil price ended yesterday with strong positivity to settle inside the bullish channel again, starting today with new rise to confirm the turn to rise, which stops the recently suggested correctional bearish scenario and leads the price to achieve new positive targets that start at 52.45 and extend to 53.85.

Therefore, we expect witnessing more positive trades in the upcoming sessions unless breaking 51.05 level and holding below it.

The expected trading range for today is between 50.50 support and 53.85 resistance.

The expected trend for today: Bullish


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