Brent oil price fluctuates near the bullish channel’s support that appears in the above chart keeping its stability within this channel, keeping the bullish track dominant on the short and medium term basis, supported by the EMA50 that continues to carry the price from below, waiting for achieving more of the gains in the upcoming sessions.
Therefore, we wait for more of the positive trading for today, and the next main target located at 59.88, taking into consideration that breaking 55.30 level will put the price under negative pressure and a potential test to 53.15 before any new positive attempt.
Expected trading range for today is between 55.30 support and 59.00 resistance.
Expected trend for today: Bullish
Origin: Economies
