Brent oil price trades with clear positivity by the opening of this week to begin the breaching process to 46.35 level and settles above it, opening the way for attempts to regain the main bullish trend that stopped recently for the bearish correction that its signs appear on chart, waiting to test 47.49 level initially, which breaching it represents the most important key to confirm continuing the rise in the upcoming sessions.
Therefore, the bullish bias will be suggested on the intraday and short term basis unless breaking 45.21 and holding below it, noting that breaching 47.49 level will push the price to extend its gains towards 48.91 followed by 51.20 levels on the short term basis.
Expected trading range for today is between 45.21 support and 48.91 resistance.
Expected trend for today: Bullish
Origin: Economies
