Brent oil price traded with clear negativity yesterday to retest the previously breached triangular flag’s resistance that turns into support now at 55.80, forming the first protection factor for the continuation of our bullish trend expectations, noticing that stochastic enters the oversold levels now, which provides positive motive that we wait to push the price to rise again.
In general, the main bullish trend remains valid and active in the upcoming period if the price settled above 55.20 level, reminding you that our main targets begin at 58.37 and extend to 60.00 after breaching the previous level.
Expected trading range for today is between 54.60 support and 58.37 resistance.
Expected trend for today: Bullish
Origin: Economies
