Brent oil price bounced bullishly after approaching from retesting the previously breached resistance of the bearish channel that appears on image, which forms key support level now at 38.00, to resume the positive attempts supported by stochastic positivity, which encourages us to continue suggesting the bullish trend on the intraday and short term basis.
Therefore, we believe that the way is open to head towards our positive targets that begin at 42.20 and extend to 43.60, taking into consideration that achieving these targets requires holding above 38.00 and 37.29 levels.
Expected trading range for today is between 37.29 support and 42.00 resistance.
Expected trend for today: Bullish
