Brent oil price continues its positive trading to breach the second key resistance at 47.75 and closed the daily candlestick above it, which opens the way to regain the main bullish trend that was stopped recently for the some bearish correction, waiting to return to trade inside the previously broken bullish channel, and the price needs to beach 51.15 level to return to the this channel.
Therefore, the bullish trend will be expected on the intraday and short term basis conditioned by the price stability above 46.76 level, noting that the main targets for this rise begin at 52.83 and extend to 55.00.
Expected trading range for today is between 46.76 support and 51.15 resistance.
Expected trend for today: Bullish
Origin: Economies
