Brent oil price shows positive attempts now trying to resume the recently suggested bullish trend, and by taking a deeper look at the chart, we notice that the price is confined inside a bullish pennant pattern show on the minor image, which means the breaching its resistance line at 40.90 will offer good positive motive that supports achieving more gains in the upcoming period.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, supported by stochastic and the EMA50 positivity, waiting to target 42.20 followed by 43.60 levels as next main stations, while the expected bullish bias will remain valid unless breaking 38.40 followed by 37.29 levels and holding below them.
Expected trading range for today is between 39.00 support and 43.60 resistance.
Expected trend for today: Bullish
Origin: Economies
