Brent oil price succeeded to achieve our extended target at 50.72 after the bullish rally that it witnessed yesterday, which supports the continuation of our bullish overview efficiently in the upcoming period, waiting to surpass the mentioned level to open the way to head towards 52.22 that represents our next main station.
The bullish channel keeps carrying the price to achieve more gains on the short term basis, being aware that holding above 49.50 represents initial condition to continue the suggested positive scenario.
Expected trading range for today is between 49.50 support and 53.00 resistance.
Expected trend for today: Bullish
Origin: Economies
