Brent oil price ended yesterday above 46.35 level, to activate the bullish trend scenario again, supported by the EMA50 that forms good support base, approaching from 47.49 level now.
Therefore, we expect the continuation of the positive trading domination in the upcoming period, and breaching 47.49 level will confirm extending Brent oil gains to reach 48.91 followed by 51.20, while the price needs to hold above 46.35 level to keep the chances of achieving the suggested targets.
Expected trading range for today is between 45.00 support and 49.70 resistance.
Expected trend for today: Bullish
Origin: Economies
