Brent oil price succeeded to breach 49.21 level and settled with a daily close above it, which supports the continuation of our bullish overview on the short term basis, affected by the completion of the inverted head and shoulders’ pattern that appears on chart.
Therefore, the bullish trend will remain suggested in the upcoming sessions supported by the EMA50, and the waited targets begin reach to 50.96 and extend to 51.90, noting that the continuation of the bullish wave depends on holding above 49.21 and the most important above 48.40.
Expected trading range for today is between 48.40 support and 50.96 resistance.
Expected trend for today: Bullish
Origin: Economies
