Brent oil price started today’s trading with bearish gap that put trading below 43.60 level, but we will depend on the daily candlestick close that was achieved above this level to continue suggesting the bullish trend mentioned in our last technical updates, noticing that stochastic approaches from the oversold areas to offer positive motive that we are waiting to assist to push the price to rise again.
Therefore, the bullish bias will be expected for the upcoming sessions unless breaking 42.70 level and holding below it, which will push the price to head towards 39.40 before any new attempt to rise, reminding you with the next target of the bullish wave at 48.70.
Expected trading range for today is between 41.50 support and 46.00 resistance.
Expected trend for today: Bullish
Origin: Economies
