Brent oil price bounced bullishly after pushing on the bullish channel’s support on last Friday, regaining its main bullish track inside the mentioned bullish channel, and the way is open now to target the previously recorded top at 52.83, which represents the next main target.
The EMA50 keeps providing the positive support to the suggested bullish wave, which its targets extend to reach 57.80 after breaching the previous level, taking into consideration that breaking 49.75 level and holding below it will push the price to test 46.76 level before any new attempt to rise.
Expected trading range for today is between 49.00 support and 53.00 resistance.
Expected trend for today: Bullish
Origin: Economies
