Brent oil price traded with clear positivity yesterday to step above 48.70 level again, as it closed the daily candlestick above it, reinforcing the expectations of resuming the bullish trend on the intraday and short term basis, opening the way to target the bullish channel’s resistance located now at 52.10.
The EMA50 continues to support the bullish wave from below, which its continuation conditions holding above 47.40.
Expected trading range for today is between 47.40 support and 52.10 resistance.
Expected trend for today: Bullish
Origin: Economies
