Brent oil price traded with clear positivity yesterday after confirming breaching 51.96 barrier, to head towards our first main waited target at 53.72, noticing that stochastic attempts to get rid of its negativity now to gain enough positive momentum to push the price to continue the bullish wave.
Therefore, we will keep our expectations of the bullish trend on the short term basis, and breaching 53.72 level will lead the price to extend its gains towards 51.15 as a next main station, while the price needs to hold above 50.87 level to keep the chances of achieving the suggested targets.
Expected trading range for today is between 51.00 support and 55.00 resistance.
Expected trend for today: Bullish
Origin: Economies
