July 17th, Economies analysts’ latest opinion today: Brent crude oil prices have fallen sharply recently, falling below the 80.96 level and currently falling to 78.90, which forms a key support level for short-term trading. It is worth noting that technical Indicators are now providing a clear bullish signal, which supports our view of a bullish rally ahead and the start of a new leg up.
Therefore, we recommend maintaining a bullish bias today, waiting for another touch of 80.96, if the price breaks below 78.90, it will stop the expected rise and push the price further down.
Today’s expected trading range is between 78.00 support and 80.96 resistance.