Brent oil price traded with clear positivity yesterday to settle above 51.00 barrier, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, and the way is open to visit 52.22 level that represents our next main target, as the price gets continuous positive support by the EMA50.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions unless breaking 50.72 level and holding below it, as breaking this level will push the price to test 49.50 areas and might extend to 48.28 before any new attempt to rise.
Expected trading range for today is between 50.00 support and 53.50 resistance.
Expected trend for today: Bullish
Origin: Economies
