Brent oil price continued its bullish rally to surpass 47.00 barrier and settles with a daily close above it, which confirms the continuation of the bullish trend in the upcoming period, which allows the price to resume its positive trading within the main bullish channel that appears in the image.
Therefore, we believe that the way is open for targeting 48.70 then 50.30 levels mainly, taking into consideration that achieving the suggested targets depends on the stability above 46.05 and the most important above 45.00.
Expected trading range for today is between 46.05 support and 50.00 resistance.
Expected trend for today: Bullish
Origin: Economies
