Brent oil price rallied upwards clearly on yesterday’s evening to end trading above the bullish channel’s resistance, reinforcing the expectations of continuing the bullish trend in the upcoming period, waiting to head towards the previously recorded top at 54.65 that represents our next main target.
Stochastic provides positive overlapping signal to support the suggested bullish trend, noting that the continuation of the expected rise depends on holding above 52.22 level.
Expected trading range for today is between 51.50 support and 54.65 resistance.
Expected trend for today: Bullish
Origin: Economies
