Brent oil price achieved strong gains yesterday after confirming breaching the key resistance 44.25, to approach from the first positive target at 46.76, as the price managed to build support base above 46.00$ per barrel barrier, which reinforce the chances of continue rising in the upcoming sessions, noting that breaching the targeted level will extend the bullish wave to reach 48.15 level direct.
Therefore, we expect the domination of the bullish bias on the upcoming trading, and breaching 48.15 level will lead the price to target the previously recorded top at 52.83, taking into consideration that achieving the suggested targets requires the stability above 43.00.
Expected trading range for today is between 44.40 support and 48.15 resistance.
Expected trend for today: Bullish
Origin: Economies
