Brent oil price succeeded to breach the sideways range’s resistance that appears in the chart, to support the continuation of the bullish trend scenario efficiently in the upcoming period, opening the way towards targeting 53.80 level as a next main station.
Therefore, our bullish trend expectations will remain valid on the short and medium term basis, supported by the EMA50 that carries the trading within the minor bullish channel, taking into consideration that continuation of the bullish trend depends on the stability above 49.85 and the most important above 48.70.
Expected trading range for today is between 49.85 support and 53.80 resistance.
Expected trend for today: Bullish
Origin: Economies
