Brent oil price hovers around the minor support 39.30, and it needs to hold above this level to keep the chances valid to resume the bullish bias in the upcoming period, waiting to head towards 43.60 that represents the next main target of the current bullish wave.
Stochastic offers clear positive signals now, which supports the continuation of our bullish trend overview on the intraday and short term basis, noting that breaking 39.30 level and holding below it will push the price to test the most important support area for the short term and medium term trading between 37.29 and 36.30 before any new attempt to rise.
Expected trading range for today is between 38.00 support and 42.00 resistance.
Expected trend for today: Bullish
Origin: Economies
