Brent oil price rallied bullishly to breach the EMA50 and settle above it, which forms good positive factor that supports the continuation of the expected bullish trend on the intraday and short term basis, and the way is open to test 50.30 that represents the next main target of the current bullish wave.
Therefore, we believe that the path is opened to achieve more gains in the upcoming period, and breaching 50.30 level will push the price to test the previously recorded top at 52.83 as a next main station, reminding you that holding above 46.76 represents key condition to achieve the suggested targets.
Expected trading range for today is between 46.50 support and 50.30 resistance.
Expected trend for today: Bullish
Origin: Economies
