Brent oil price returns to test the main bullish channel’s support that appears on chart, which is met by the EMA50 that adds more strength to it, which encourages us to continue suggesting the main bullish trend that its targets begin by testing 52.83 level, reminding you that breaching this level will extend Brent oil price gains to reach 57.80.
We need to take into consideration that breaking 49.85 level will put the price under negative pressure that might push trading towards 46.76 before any new attempt to regain the bullish trend.
Expected trading range for today is between 49.00 support and 53.00 resistance.
Expected trend for today: Bullish
Origin: Economies
