The tight range continues to dominate Brent oil price trading that keeps fluctuating around the EMA50, noticing that stochastic shows clear oversold signals now, which supports the chances of resuming the bullish trend in the upcoming period, waiting to surpass 42.20 barrier to open the way to visit 43.60 level.
Therefore, the positive overview will remain valid until now, noting that breaking 39.90 level will stop the expected rise and push the price to test the most important support to the short term and medium term trading at 37.29.
Expected trading range for today is between 39.00 support and 43.00 resistance.
Expected trend for today: Bullish
Origin: Economies
