Brent oil price keeps fluctuating inside the minor bearish channel that appears on the above chart, and as we mentioned yesterday, this channel forms bullish continuation pattern that we expect to assist to push the price to resume the main bullish trend, getting continuous support by the EMA50, reinforcing the chances of continuing the bullish wave inside the bullish channel that appears on image.
Therefore, these factors encourage us to suggest more gains in the upcoming sessions, and breaching 45.40 level will complete forming the mentioned technical pattern followed by opening the way to target 47.80 then 48.70 levels as next main stations, reminding you with the importance of holding above 43.60 level to keep the chances of achieving the suggested targets.
Expected trading range for today is between 43.00 support and 47.80 resistance.
Expected trend for today: Bullish
Origin: Economies
