Technical analysis: Brent crude prices rise again on July 5

July 5th, Economies analysts’ latest opinion today: Brent crude oil prices rebounded significantly after the decline in the previous few trading days, strengthening expectations for a continuation of the overall bullish trend. Yes, a break above that level would extend the advance to 77.75, followed by 78.90.

EMA50 continues to support the bullish, the price may experience consolidation before gaining positive momentum to help resume the expected upside, bullish continuation depends on price stabilizing above 74.30.

Today’s expected trading range is between 74.50 support and 77.75 resistance.