July 11th, Economies analysts’ latest views today: After facing negative pressure in the previous trading sessions, Brent crude oil prices closed at 77.75 yesterday and opened higher today, suggesting a resumption of the intraday bullish trend and awaiting a test of 78.90 as the next major target.
Therefore, we remain bullish and a break above this level would extend the uptrend towards 79.70, taking into account that failure to settle above 77.75 would put negative pressure on prices towards 76.80 before any fresh upside attempts.
Today’s expected trading range is between the 76.70 support level and the 80.00 resistance level.