Brent oil price managed to confirm breaching 50.72 level, achieving a daily close above it, to reinforce the expectations of continuing the bullish trend in the upcoming period, and the way is open to head towards our next target at 52.22.
The EMA50 keeps providing the positive support to the price, to protect trading inside the bullish channel that appears on the above chart, noting that holding above 50.72 represents the first condition to continue the suggested rise, as breaking it will push the price to test 49.50 areas initially before any new attempt to rise.
Expected trading range for today is between 49.50 support and 53.00 resistance.
Expected trend for today: Bullish
Origin: Economies
