Brent oil price begins today with slight decline heading towards a potential test to the critical support level at 54.87, as we mentioned in our last reports, the price needs to settle above this level to guarantee the continuation of the bullish trend on the intraday and short term basis, where breaking it will push the price to regain the bearish correctional track.
Therefore, the overall positive scenario will remain active in the upcoming period supported by stochastic and the EMA50 positivity, reminding you that our next main target located at 58.36.
Expected trading range for today is between 54.00 support and 58.00 resistance.
Expected trend for today: Bullish
Origin: Economies
