Brent oil price bounced bullishly after leaning on the EMA50, to resume its bullish track affected by the completion of the inverted head and shoulders’ pattern that appears on chart, opening the way to continuing rising to target 45.70 followed by 46.76 levels mainly.
Therefore, the bullish trend will remain suggested in the upcoming sessions supported by the EMA50, unless the price managed to break 46.30 – 43.00 levels and holding with a daily close below them.
Expected trading range for today is between 43.00 support and 46.76 resistance.
Expected trend for today: Bullish
Origin: Economies
