Brent oil price fluctuates around 51.96 level, while the EMA50 continues to provide the positive support to the price, accompanied by stochastic approach from the oversold areas on the four hours’ time frame.
Therefore, these factors encourage us to keep our bullish overview in the upcoming period, which its targets begin by breaching the recently recorded top at 53.72 to open the way to head towards 54.34 followed by 55.15 levels, taking into consideration that the continuation of the expected rise conditions holding above 50.87.
Expected trading range for today is between 50.00 support and 54.34 resistance.
Expected trend for today: Bullish
Origin: Economies
