Brent oil price returns to trade positively after approaching from 50.87 level yesterday, noticing that stochastic provides positive overlapping signal on the four hours’ time frame, to support the chances of breaching 51.96 barrier and open the way to continue the bullish trend on the intraday and short term basis.
Therefore, the bullish trend scenario will remain valid and active in the upcoming sessions conditioned by the price stability above 50.87 level, reminding you that our positive targets begin at 53.72 and extend to 55.15.
Expected trading range for today is between 50.00 support and 54.34 resistance.
Expected trend for today: Bullish
Origin: Economies
