Brent oil price continues to move within tight track settling around the EMA50, thus, no change on the main bullish trend scenario that depends on the stability above 54.25 level, supported by stochastic reach to the thresholds of the oversold areas, waiting to target 58.37 level initially.
Carefully note that breaking 54.25 will push the price to visit 23.6% Fibonacci level at 50.98 before any new attempt to rise.
Expected trading range for today is between 54.25 support and 58.37 resistance.
Expected trend for today: Bullish
Origin: Economies
