The EMA50 managed to stop the negative trading that appeared on the Brent oil price yesterday, the price begins to bounce higher in attempt to resume the bullish trend on the short term basis, supported by the clear oversold level signals that come from stochastic, waiting for heading to 48.70 as a next main station, reminding you that breaching this level will extend the price gains to reach 53.80.
Therefore, the bullish trend will remain valid and active unless breaking 45.85 and the most important 43.60 levels.
Expected trading range for today is between 45.00 support and 49.00 resistance.
Expected trend for today: Bullish
Origin: Economies
