Brent oil price continued its positive trading to approach from our first main waited target at 57.46, showing sideways fluctuation now affected by stochastic negativity, which succeeded to get rid of its negative momentum to reach the oversold areas now, forming positive motive that we are waiting to assist to push the price to continue the main bullish trend in the upcoming sessions.
Therefore, our bullish overview will remain valid and active on the intraday and short term basis, waiting to breach 57.49 level to open the way to head towards 59.88 as a next main station, noting that the continuation of the expected rise depends on the stability above 55.45 and the most important above 54.17.
Expected trading range for today is between 55.45 support and 59.00 resistance.
Expected trend for today: Bullish
Origin: Economies
