Pivot point: 69.55
The expected scenario: entering into buying deals at the highest levels of 69.55, targeting the levels of 73.15 and then the 74.55 .
Alternative scenario: entering short deals below the 69.55 levels, targeting the 68.20 levels.
Commentary: Brent crude witnessed a change in the general bearish trend to turn into a general bullish trend in the short term, during last week's trading, after penetrating the ascending price channel, and ending trading Last week at 70.80 levels, after recording its highest level during last week at 72.45, to enter a correction wave and retest the 69.55 levels, which actually succeeded in consolidating above, and starts this week's trading on gains, so we are expected to witness more Gains, especially in light of the presence of the liquidity flow indicator in oversold areas, as well as the presence of a positive crossover in the moving averages (50 - 100), which supports the positive outlook for Brent crude trading during the current week.
