Brent oil price succeeded to reach our first waited target at 47.05, fluctuating around the EMA50 now, in attempt to gather enough positive momentum to push the price to breach the mentioned level followed by heading towards our next target at 49.21.
Therefore, our bullish overview will remain valid for the upcoming period, noting that breaking 45.55 will stop the suggested rise and put the price under the negative pressure again.
Expected trading range for today is between 45.55 support and 49.00 resistance.
Expected trend for today: Bullish
Origin: Economies
