Brent oil price trades above the symmetrical triangle’s resistance that appears on the above chart, which hints the price head to resume its main bullish track in the upcoming sessions, waiting to breach 57.05 level to add more confirmation to the continuation of the expected rise.
Therefore, the bullish trend scenario will remain valid and active on the short term basis, supported by the EMA50 besides stochastic approach from the oversold areas, waiting to target 58.37 followed by 60.00 areas mainly, reminding you that it is important to hold above 54.95 to keep the chances of achieving the suggested targets.
Expected trading range for today is between 54.95 support and 59.00 resistance.
Expected trend for today: Bullish
Origin: Economies
