Brent oil price ended yesterday’s trading above the main bullish channel’s support, which reactivate the bullish trend scenario on the intraday and short term basis, paving the way to resume the bullish trend in the upcoming period, targeting 57.15 followed by 58.37 levels mainly.
Therefore, we are waiting for more rise in the upcoming sessions, noting that stochastic provides positive overlapping signal on the daily time frame to motivate the price to continue achieving gains, noting that the continuation of the expected bullish trend depends on holding above 55.50 and 54.45 levels.
Expected trading range for today is between 54.00 support and 58.37 resistance.
Expected trend for today: Bullish
Origin: Economies
