Brent oil price last trading confined within the minor falling wedge pattern that appears in the above chart, which means that breaching its resistance level at 55.80 will activate that positive effect of this pattern then leads the price to resume the main bullish trend.
Therefore, we keep preferring the overall bullish trend supported by the EMA50, reminding you that holding above 54.87 represents an important condition for the continuation of the suggested rise, which its main targets begin at 58.36.
Expected trading range for today is between 54.00 support and 57.50 resistance.
Expected trend for today: Bullish
Origin: Economies
