Brent oil price settled below 54.87 level, which might push the price to return to the bearish correctional track, but we notice that the price leans on the minor bearish channel’s support that appears in the image, which we believe that it forms bullish continuation flag that we wait to assist to push the price to regain its main bullish track, where the price needs to braech 55.60 level to activate the positive effect of this pattern.
Therefore, we will keep our positive expectations for today unless breaking 54.40 level and holding below it, where breaking this level will push the price to head to 52.71 directly, while breaching 55.60 will ease the price mission to head towards our next main target at 58.36.
Expected trading range for today is between 53.50 support and 57.00 resistance.
Expected trend for today: Bullish
Origin: Economies
