Technical analysis: Brent finds support and rebounds on July 7

July 7th, Economies analysts’ latest views today: Brent crude oil prices faced strong negative pressure yesterday, falling below 76.05 and reaching 75.00, but EMA50 formed a good support for the price, and the price rebounded and rose again. 76.80, which supports bullish expectations, the rally started after breaking 76.80, targeting 77.75, followed by 78.90.

Therefore, expect the upside to continue today, with the caveat that if the price fails to break through 76.80, then it will fall again and head towards 74.30.

Today’s expected trading range is between 75.00 support and 78.20 resistance.