Pivot point: $73.00.
The expected scenario: entering into buying deals at the highest levels of $73.00, targeting the levels of $75.45 in the short term.
Alternative scenario: entering short deals below the levels of $73.00, targeting the levels of $73.30.
Commentary: Brent crude is still maintaining the general upward trend in the short term, through the ascending price channel, which worked to raise the price from the levels of $68.60, Reaching the levels of $74.50, to start this week’s trading with slight declines within the framework of a short-term corrective wave, and then to complete the upward journey and target the levels of $75.45, especially in light of the cohesion of the price above the moving averages (100-50), in addition to the presence of Positive deviation in the liquidity flow index in the direction of buying, which supports the positive outlook for Brent crude trading in the short term.
