Brent oil price ended last week above 48.70 level, which confirms regaining the main bullish track that was stopped after the temporary decline that appears on chart, waiting to continue achieving gains to target 53.80 areas as next main station.
The EMA50 forms temporary obstacle against the price positive attempts, while the price might show some temporary fluctuation until stochastic manages to gain enough positive momentum to push the price to resume the bullish trend, which its continuation conditions holding above 47.60.
Expected trading range for today is between 47.60 support and 51.00 resistance.
Expected trend for today: Bullish
Origin: Economies
