Brent oil price opens today’s trading with more positivity to begin the process of breaching the minor bearish channel’s resistance that appears on chart, which activates the positive effect of the bullish continuation flag pattern formed by this channel, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, opening the way to head towards 42.00 as a next main station.
The EMA50 continues to offer the positive support to the suggested bullish wave, which its targets extend to 43.60 on the near term basis, while its continuation conditions holding above 37.29.
Expected trading range for today is between 39.00 support and 43.60 resistance.
Expected trend for today: Bullish
Origin: Economies
