Brent oil price bounces higher clearly approaching from 50.96 level yesterday, in its way to test the critical resistance at 52.71, pointing that stochastic provides positive signals that support the chances of the bullish bias continuation in the upcoming sessions, to keep the positive scenario active for today.
Therefore, we wait for positive trading on the intraday and short term basis, and breaching 52.71 level will push the price to 54.87 as a next main station, while the continuation of the suggested bullish bias depends on the stability above 50.96 level.
Expected trading range for today is between 50.96 support and 54.87 resistance.
Expected trend for today: Bullish
Origin: Economies
