Brent oil price managed to breach the bullish pennant’s resistance that its signs appear on chart, and the price keeps its stability above the breached resistance, which forms positive motive that we expect to assist to push the price to achieve more gains in the upcoming period, and the way is open to visit 58.37 level that represents the first main target, reminding you that breaching this level will extend the bullish wave to reach 60.00.
Therefore, we will continue to suggest the bullish trend in the upcoming period, supported by the EMA50, noting that holding above 55.00 represents key condition to continue the expeted rise.
Expected trading range for today is between 55.00 support and 59.00 resistance.
Expected trend for today: Bullish
Origin: Economies
